CPI to stage protest on Feb 13 to demand JPC probe into Adani issue

The Communist Party of India will stage demonstrations on February 13 to protest against the alleged “anti-people budget” and to demand a Joint Parliamentary Committee (JPC) probe into the “wrongdoings” of the Adani group.

CPIs national secretariat has asked all its units to observe the day as “Protest Day”.

“It has appealed to all units to demonstrate in front of LIC, SBI or any central government offices and try to reach people through press conferences, posters and pamphlets and also appeal to like-minded people and parties to join the demonstration,” the party said in a statement.

“Party also appeals to conduct a sustained agitation to expose Adani and Union government nexus by calling all other secular democratic and Left parties and organizations to join the campaign,” it added.

Various opposition parties have demanded a Joint Parliamentary Committee probe or a Supreme Court-monitored committee investigation into the Adani issue while also seeking a discussion on it in Parliament.

Adani group stocks, where LIC is heavily invested, have lost over USD 100 billion in value since a tiny New York short seller — Hindenburg Research –came out with a damning report alleging financial and accounting fraud by the ports-to-energy conglomerate.

The Adani group has denied all charges and called the report malicious and full of lies.

After the slide in Adani group stocks, the opposition said the rout has threatened the value of investments made by the Life Insurance Corporation (LIC) and public sector banks.

(Except for the headline, this story has not been edited by The Federal staff and is auto-published from a syndicated feed.)