Congress seeks probe after report raises concerns over Adani Group shares

The Congress on Friday called for an investigation after a US-based research firm in its report raised concerns about the possibility of shares of Adani Group companies declining from their current levels owing to high valuations.

“But in an era of globalisation of Indian businesses and financial markets can Hindenburg-type reports that focus on corporate misgovernance be simply brushed aside and dismissed as being “malicious”? We fully understand the close relationship between the Adani Group and the current government. But it is incumbent on the Congress party as a responsible opposition party to urge SEBI and RBI to play their roles as stewards of the financial system and to investigate these allegations in the wider public interest,” Congress leader Jairam Ramesh said in a statement on Friday.