Industrialist Gautam Adani met with Nationalist Congress Party (NCP) president Sharad Pawar at his residence in Mumbai on Thursday. The meeting lasted for nearly two hours. The meeting took place amid the Opposition’s demand for a Joint Parliamentary Committee (JPC) probe into the Adani-Hindenburg issue. Earlier this month, Pawar had come out in support of the Adani group and criticised the narrative around the US short seller Hindenburg Research’s report on the conglomerate.
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.
The Supreme Court had last month ordered the setting up of a committee 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.