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.

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.

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.