File Picture
Congress party questioned the “silence” of the Union finance minister and probe agencies after LIC and SBI “lost over Rs 78,000 crore” in market capitalisation of their shares due to exposure in Adani Group.
LIC and SBI continue to invest in the Adani group even after the Hindenburg research report alleged share price manipulation and financial misappropriation by the group, Congress general secretary Randeep Surjewala claimed in series of Tweets.
1/3#LIC is PUBLIC MONEY!
Post #HindenburgReport , Value of #LIC investment in Adani Group shares have fallen from ₹77,000 CR to ₹53,000 CR- loss of ₹23,500 CR.
Also,LIC shares have lost ₹22,442 CR
Why is LIC still investing ₹300 CR in Adani Group?https://t.co/uJDgTa2l0R
— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
2/3
After #HindenburgReport , SBI share’s “market cap” has declined by a whopping ₹ 54,618 CRAlso, Loan Exposure of #SBI and other Banks to Adani Group is ₹ 81,200 CR.
QUESTION IS..
Why are SBI Employees Pension Fund & SBI Life still investing ₹ 225 CR in Adani Group?— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
3/3
Between Jan. 24 and 27 i.e in 3 days, #SBI & #LIC have lost “market cap” of ₹ 78,118 CR in value of their shares alone!The Loan Exposure of SBI & Invest Value decline of LIC in Adani Group is in addition thereto.
YET..
RBI,
SEBI,
ED,
SFIO,
CBI,
FM remain on “mute” mode.— Randeep Singh Surjewala (@rssurjewala) January 28, 2023
“LIC is public money! Post Hindenburg Report, the value of LIC investment in Adani Group shares have fallen from Rs 77,000 Crore to Rs 53,000 crore — loss of Rs 23,500 crore.
