IYC protests against Adani, Centre over Hinderburg report allegations

Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations against it, including that of fraudulent transactions and share price manipulation. Opposition parties, including the Congress, have alleged that the meltdown in Adani Group shares is a scam that involves common peoples money as LIC and SBI have invested in them.

The Indian Youth Congress (IYC) on Thursday staged a protest outside its party office here demanding a probe into the allegations of fraud made against the Adani group in the Hindenburg research report.

The protest was led by IYC National president Srinivas B V, who said that the party has been demanding a joint parliamentary committee (JPC) probe or Supreme Court-monitored probe into the matter.

Several youth Congress workers gathered at Raisina road and raised slogans against the Central government while holding banners, wearing masks of Gautam Adani, and Prime Minister Modi. Security around the area was beefed up with deployment of a large number of police personnel and erecting of barricades. Adani Group stocks have taken a beating on the bourses after US-based activist short-seller Hindenburg Research made a litany of allegations against it, including that of fraudulent transactions and share price manipulation. The group has dismissed the allegations as lies. Opposition parties, including the Congress, have alleged that the meltdown in Adani Group shares is a scam that involves common people's money as LIC and SBI have invested in them.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)