 "Kalvakuntla Chandrasekhar Rao, Chief Minister of Telangana (Source: www.telangana.gov.in)")
Telangana Chief Minister K Chandrasekhar Rao on Sunday demanded Adani Group's "scam" be discussed in a Joint Parliamentary Committee (JPC) as he targeted the Centre over the import of coal and its "love" for Adani.
He claimed the Centre is pressuring Life Insurance Corporation to make a false statement over its exposure in the Adani Group.
The Indian banking system is involved in this problem and the whole country is worried, he alleged.
Addressing a press conference in Nanded city of Maharashtra after speaking at a public rally, Rao, who heads Bharat Rashtra Samithi (BRS), alleged the Centre is forcing states to import coal which is supplied only by Adani Group.
The import of coal is akin to "cheating" the country, and the BRS will change this scenario after coming to power, he said.
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"It is my request to the Prime Minister that Adani Group is involved in such a big scam and it should be discussed in a joint parliamentary committee. Almost Rs 10 lakh crore has been evaporated," he alleged.
"Everyone knows he (Adani) is your friend. In just two years, he became the world's second richest person. If you are honest, set up a joint parliamentary committee. It is my demand," Rao said.
The BRS chief claimed the Life Insurance Corporation has an exposure of Rs 80,000 crore (in Adani Group). But to mislead the country, the Centre is pressuring LIC to make a false statement that it is not in danger".
"LIC is the world's largest and better-performing insurance company but why the government is intervening?" he asked.
Speaking on the coal scenario, he said India has enough reserves of coal that would last for the next 120 years but the Union government is forcing states to procure imported coal, which is only supplied by the Adani group.
"The kind of love the Centre has for Adani, it should have for the people of the country," he said.
The Adani Group is battling allegations of fraudulent transactions and share price manipulation raised by US-based activist short-seller Hindenburg Research, leading to a steep fall in the prices of its shares.
The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
"The import of coal is cheating the country. Coal India Ltd has already stated that it has paid the required amount for the construction of a 250-km long railway track that would increase our coal production exponentially. But the Centre government is not letting it happen," he claimed.
Rao, however, didn't specify the railway track he was talking about.
"If we utilise all the coal fields in the country properly, we will need not have to buy a single kilogram of coal from any other country. The BRS is going to change it when it comes to power," he said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
