TPCC General Secretary Punna Reddy demanded a probe into the Modi-Adani nexus

Hyderabad, March 10: Telangana Pradesh Congress committee TPCC General secretary Punna Reddy   on Friday, demanded a probe by the Joint Parliamentary Committee (JPC) and the Enforcement Directorate into the Adani Group's alleged financial irregularities exposed in the Hindenburg report.Punna Reddy demanded a probe into the Modi-Adani nexus.

Punna Reddy accused the BJP Govt of allegedly pressurizing the management of LIC and SBI to invest a huge sum of money in Adani group of companies. After Hindenburg Research's revelations on alleged irregularities by Adani Group, the stocks crashed, and LIC and SBI suffered huge losses. He said it was the responsibility of the Modi Government to safeguard common people's money invested in SBI and LIC. However, Modi allegedly pressurized SBI and LIC to make huge investments in the shares of Adani Group companies to favor his friend Adani. Consequently, both SBI and LIC suffered losses to the tune of thousands of crores after Adani Group shares crashed, which would have a long-term impact on common investors.

TPCC General secretary Punna Reddy said that Congress leader Rahul Gandhi has been demanding a JPC probe into the Adani group share crash issue since the beginning. However, the Modi Govt is still trying to protect the scam-hit Adani Group by remaining mute spectator on the issue, despite the fact that common investors suffered heavy losses. He asked why the Modi Govt was hesitant to order a probe into the allegations of stock manipulation and accounting fraud against the firms of Adani Group.