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Mark Mobius noted that the Adani family’s involvement and the high debt of the company was known way before Hindenburg’s report came out.
Life Insurance Corporation of India (LIC) shares have remained under pressure in the past few days
Following the Hindenburg report, Adani Group lost nearly Rs 9 lakh crore in the share market bloodbath and was forced to call of its follow-on public offering.
The Congress leader said the RBI must do everything possible to protect India’s banks and financial institutions, while SEBI must protect index investors from investing in "questionable firms".
LIC has invested Rs 35,917 crore in the Adani Group, and five other public insurance companies have invested Rs 347 crore, the government said.