Following more than a week of tumultuous market action and heated debate in Parliament and around the country, Opposition parties in India are demanding a Joint Parliamentary Committee or Supreme Court probe into the Adani stock crash issue.

Members of the Opposition may stage a sit-in protest on Monday, February 6, near the Gandhi Statue in protest of the government's "silence" on the matter.

A plea from Advocate ML Sharma was filed in the Supreme Court seeking compensation for investors who had lost their money due to the market reaction to the short-seller Hindenburg Research's report. Adani Group's market cap has halved since January 24 and has fallen below Rs 10 lakh crore.

ALSO READ | Adani stock crash: Plea seeking compensation for investors filed in Supreme Court

Friday's Parliamentary sessions of both the Lok Sabha and Rajya Sabha were also adjourned until 2 pm following protests by Opposition members demanding a discussion on the fraud allegations against the Adani Group, which led to the stock crash.

The Lok Sabha speaker and Rajya Sabha Chairman Jagdeep Dhankhar rejected the suspension of business notices filed by members of the Opposition.

"I have gone through all the notices. I am unable to accede to them as these are not fulfilling the requirements of rule 267 and are not in conformity with the direction by the chair on December 8, 2022," Dhankar said on Friday, leading to uproar from Opposition members.

Around 16 Opposition parties held a meeting in Parliament on Friday morning to chalk out their strategy for the floor of the House. They discussed short-seller Hindenburg Research's report on Adani Enterprises.

The Opposition has accused the Centre of "forcing" government institutions like LIC, SBI and PSU Banks to invest in the Adani Group companies and demands answers on how much money was put into them.

Congress President Mallikarjun Kharge has also demanded day-to-day reporting on the controversy.

Also Read: LIC has not sold any Adani group shares in current selloff: Exclusive

First Published:Feb 3, 2023 1:58 PM IST