Opposition again forces adjournments on Hindenburg-Adani row, RS Chairman says rules cannot be derailed for 'optical impressions'

New Delhi [India], February 6 : Opposition parties again forced adjournments in Lok Sabha and Rajya Sabha on Monday on their demand for a Joint Parliamentary Committee probe into the Hindenburg-Adani row with the government insisting that debate on the motion of thanks on President's Address should be taken up.
Both Lok Sabha and Rajya Sabha were adjourned till 2 pm and then for the day.
This is the third day of the logjam in Parliament over the opposition's demand for JPC.
The Opposition parties are demanding discussion over investment by LIC, public sector banks, and financial institutions "in companies losing market value, endangering the savings of crores of Indians" following a report by a US-based short seller Hindenburg Research which made allegations against some companies of Adani group.
After the House met for the day, Rajya Sabha Chairman Jagdeep Dhankar said that people want the House to conduct effective deliberations.
"We are not honouring their aspirations. We are not acting in accordance with what we are expected to do. I appeal to you, in the name of democracy and Constitution, to transact Business of the day. To generate optical impressions, we cannot allow rules to be derailed,"
He also referred to time lost due to disruptions.
"Each of the days could have been utilized to raise the issues which are close to your hearts, which you think are in public interest. The fact that we choose a forum meant for deliberations for extraneous purposes is not appropriate. I urge the House to be in order and take up the Listed Business. It is time for us, and I appeal to you, to think what the common man is thinking."
Congress leader Jairam Ramesh urged the Chair to allow the Leader of the Opposition to raise the issue.
"The House is not in order. This is an outrage of rules, this is an outrage of expectations. The House is not being allowed to run. This is most unfortunate," the Chairman said.
When the House met at 2 pm, opposition members sought to raise the Hiendenburg-Adani issue again.
"The House knows, the illustrious members of the House know that the listed Business affords them all opportunity of expression. It defies logical reason why we are not availing it," he said.
As opposition protests continued, the House was adjourned for the day.
In the Lok Sabha, Speaker Om Birla urged opposition members to take their seats during the question hour. He said a question pertaining to welfare of laborers is being asked.
The Speaker said that the House is for debate and discussion. He said opposition members can come to his chamber to raise their issues. As the opposition members continued their protest, the Speaker adjourned the House till 2 pm.
When the House met at 2 pm, Parliamentary Affairs Minister Pralhad Joshi urged the House to take up discussion on the motion of thanks to the President's Address.
He said that it is the first item on agenda after the President's Address. "This is the tradition," he said and urged opposition members to take their seats.
As the opposition members continued their protest, the House was adjourned for the day.
Several opposition members had given adjournment motion notices. In the Rajya Sabha, members gave notices for discussion under Rule 267.
Lenders to Adani group said last week that their exposure to the conglamorate is within permitted limits. Securities and Exchange Board of India (SEBI) also issued a statement and said that it is committed to ensuring market integrity.
SEBI said that the Indian financial market as represented by Sensex and Nifty has demonstrated ongoing stability and is continuing to function in a transparent, fair and efficient manner.
Adani group stocks had witnessed a crash following Hindenburg Research report.
SEBI said on a longer-term basis also, Indian markets have been viewed positively by investors.
On Wednesday, Adani Enterprises decided not to go-ahead with its fully subscribed Follow-on Public Offer (FPO), with the Group chairman Gautam Adani stating on Thursday that it would not be "morally correct" to go ahead with the Rs 20,000-crore share in the current market condition.
Finance Minister Nirmala Sitharaman, who addressed a post-budget press conference in Mumbai, said the regulators are independent of the government and they are left to themselves to do what is appropriate so the market is well regulated.
"This is not the first time that some FPO (follow-on public offering) is taken back. How many times that has affected the image of the country?" she said.
Reserve Bank of India had said on Friday that according to its current assessment, the banking sector remains resilient and stable.
The central bank had said it maintains a constant vigil on the sector and on individual banks with a view to maintain financial stability.
State Bank of India (SBI) chairman Dinesh Khara had said the bank's total exposure amounting to Rs 27,000 crore in Adani Group is 0.88 per cent of its loan book.
"We have lent to Adani (group) for projects having tangible assets and adequate cash. They have met obligations...our total exposure to Adani group is 0.88 per cent as of December 31," he had said at a press conference.