Adani-Hindenburg saga: Amit Shah breaks silence on Congress' allegations

Adani-Hindenburg Saga: Union Home Minister Amit Shah on Tuesday categorically denied Congress' allegations that the Bharatiya Janata Party (BJP) government has favoured the Adani Group. Speaking to the news agency ANI, Shah stated that the BJP has "nothing to hide or be afraid of".

"The Supreme Court has taken cognisance of the matter. As a minister, if the Supreme Court is seized of the matter it is not right for me to comment. But in this, there is nothing for the BJP to hide and nothing to be afraid of," he responded when asked about Congress' allegations on the ruling establishment.

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Shah's remark assumes significance as it came in the backdrop of a report by New York-based short-selling firm Hindenburg wherein it accused the Ahmedabad headquartered conglomerate of fraud and stock manipulation. The row has turned into a major political controversy with the Congress and other opposition parties accusing the government of favouring Gautam Adani's companies.

The opposition is demanding from the government to set up a joint parliamentary committee (JPC) to investigate the matter as they claim that many public sector banks and insurance behemoth Life Insurance Corporation of India have lost money.

Meanwhile, the Centre on Monday informed the Supreme Court that the government has no objections to a committee probing the matter. The Securities and Exchange Board of India (SEBI) separately told the apex court that the shares of Adani Group have seen a significant decline in prices on account of selling pressure and the wider Indian market has shown full resilience and the combined weight of the group companies in Sensex is zero and in Nifty it is below 1 per cent. 

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