Kolkata, Feb 3 (PTI) The CPIML(Liberation) on Friday demanded that a detailed investigation be held into the allegations of wrongdoings levelled against the Adani Group by US-based firm Hindenburg Research.

Amid claims that PSU banks and LIC have also invested in the group, the party urged the Union government to provide assurance to common people that their money was secure.

Also Read | Delhi Shocker: Minor Girl Gang-Raped in Fatehpur Beri; Two Arrested.

Claiming that the Adani Group has experienced a steep growth over the two pandemic-hit years from 2020, CPI(ML)L general secretary Dipankar Bhattacharya said that the Indian regulatory agencies will have to answer to queries on the slump in its stocks.

"A detailed investigation must be held into the Adani shares issue," Bhattacharya said at a press meet here.

Also Read | Supreme Court Seeks Response From Centre, State Govts on Plea To Transfer Religious Conversion Cases From High Courts.

Adani Group has lost more than USD 100 billion in market value since Hindenburg Research accused it of stock manipulation and accounting fraud in the January 24 report. The group has denied any wrongdoing and has threatened to sue Hindenburg.

Criticising the 2023-24 Budget, placed before the Parliament on February 1, Bhattacharya also stated that "it has not proposed any wealth tax or inheritance tax".

He said that the next Congress of the CPIML(L) will be held in Patna from February 16 to 20.PTI SBN AMR

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)