JPC should investigate Adani Issue: Kavitha

Hyderabad: JPC should be formed to investigate the fall of the Adani group's stock prices, said BRS MLC Kavitha on Monday. She criticised the statement of Union Finance minister Nirmala Sitharaman, who said it would not impact the Indian economy.

Speaking to media persons on the premises of Telangana Legislative Council, the BRS MLC said, "Today in the country, we are facing a huge crisis. We should definitely call it a crisis as the fall of Adani group's shares and the value of the company will impact the country's economy." She said the Adani group's shares saw a massive downward spiral after a Hindenburg report found that the company's valuation was inflated fraudulently.

"The value of shares of SBI and LIC that invested in the Adani group has fallen sharply since January 23 till date. It has caused a severe loss to the common man. The share value of Adani on January 23 was Rs 3,436. Now the share value of the group has fallen to Rs 1,483 on February 6, The BRS party demands to form a joint parliamentary committee in which every parliamentarian from all political parties can take part," Kavitha said, adding there should be an impartial probe when something impacts the country so deeply. "It's the responsibility of the Prime Minister morally and socially to speak out to the country and to the people so that Adani's fiasco would not turn into an economical disaster," she said, adding it is the moral of the Prime minister of this country to speak to the people of this nation.