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HomeNATIONMahua Moitra targets centre yet again on Hindenburg controversy, alleges LIC suffered...

Mahua Moitra targets centre yet again on Hindenburg controversy, alleges LIC suffered Rs 3200 crore loss in Adani Group Companies

In Adani-Hindenburg row, TMC MP Mahua Moitra has emerged as the leading critic of the Central Government over its handling of the Adani Group fiasco. She has once again targeted the Centre over state-run Insurance Behemoth, LIC’s investment was in the Hindenburg – Adani Group. LIC has invested Rs 36,474.78 crore in seven Adani stocks. Further she has alleged that till last month, its investment was in profit. However, as the shares of Adani Group companies tanked due to a damning report by US based short seller Hindenburg, LIC’s investment has now become red and turned negative.

Mahua Moitra targets Centre over LIC’s investment in Adani Group

To reiterate her stand, Moitra shared a report on LIC’s investment and asked insurance regulator IRDAI, why it was lax and not probing the insurer’s transactions in Adani,

“Rs 3200 cr loss in Adani shares for @LICIndiaForever so far. @nsitharaman #IRDAI what pressure is there to support Adani at cost of Indian public? We need answers.”

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Moitra wants agencies to probe why LIC was allowed to invest public money in Adani Group

Ever since the release of Hindenburg report, Moitra has been attacking the Central Government and regulators. She has alleged that rules have been tweaked to favor Adani Group Chairman Gautam Adani, who is considered very close to Prime Minister Narendra Modi. She has also been persistent in her demand for an investigation by market regulator Sebi to probe Hindenburg’s allegations that Adani indulged in stock manipulation and fraud. Moitra has also wants agencies to probe on why the government owned insurance giant was allowed to invest public money in Adani Group Companies.

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