Hindenburg-Adani row | Gautam Adani meets Sharad Pawar amid Opposition’s demand for JPC probe

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Nationalist Congress Party (NCP) chief Sharad Pawar. File

Nationalist Congress Party (NCP) chief Sharad Pawar. File
| Photo Credit: PTI

Amid the Opposition’s demand for a Joint Parliamentary Committee (JPC) probe into the Adani-Hindenburg issue, industrialist Gautam Adani on April 20 met Nationalist Congress Party supremo Sharad Pawar at the latter’s Silver Oak residence in Mumbai. The meeting reportedly lasted for over two hours.

Earlier this month, Mr. Pawar had come out in support of the Adani Group and criticised the narrative around the U.S. short seller Hindenburg Research’s report on the conglomerate.

Also Read | Congress questions LIC’s increased holding in Adani Enterprises despite 60% drop in market value of shares

Taking a position at variance from senior ally Congress, Mr. Pawar had said he favoured a Supreme Court committee to probe allegations against the Adani Group since the ruling Bharatiya Janata Party (BJP) would have a majority in the JPC based on numerical strength in Parliament and this would lead to doubts on such a probe.

The NCP supremo had later said although his outfit does not agree with the demand of anti-BJP parties for a JPC probe into allegations against the Adani Group, it will not go against their stand for the sake of Opposition unity.

Also Read | Hindenburg Research | With an eye for fraud

The Supreme Court had last month ordered the setting up of a six-member committee headed by a former apex court judge to look into various regulatory aspects for stock markets, including the recent Adani Group shares crash triggered by Hindenburg Research’s fraud allegations.

The Hindenburg Research has made a litany of allegations, including fraudulent transactions and share-price manipulation, against the business conglomerate. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.

(With PTI inputs)

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