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TMC MP Mahua Moitra lies about SBI’s exposure to Adani Group, deletes tweet on being called out

After she was called out on social media, the Trinamool Congress leader quietly deleted her tweet without citing any apology or clarification.

On Saturday (February 4), Trinamool Congress (TMC) MP Mahua Moitra stirred the hornet’s nest after she falsely claimed that the State Bank of India (SBI) owed 27% of its loan book to the Adani group.

In a tweet, she claimed, “SBI says Adani group owes it ₹27000 crores – a whopping 27% of its loan book. Finance Secretary says it is a storm in a cup.”

The TMC leader tried to create panic and hysteria among the Indian masses at a time when a malicious Hindenburg Research report targeting Adani Group caused a loss of $100 billion for investors in Adani Group.

Screengrab of the tweet by Mahua Moitra

Opindia also found that the fake claim about SBI owing 27% of its loan book to Adani Group was also published by The Telegraph.

While it is true that the conglomerate has taken loans totalling ₹27000 crores from the Indian public sector banks, the total exposure stands at a mere 0.88% (~0.9%) of the overall loan book and not 27% as claimed by Mahua Moitra or The Telegraph.

SBI Chairman Dinesh Khara has confirmed the development while speaking to the Press Trust of India.

After she was called out on social media, the Trinamool Congress leader quietly deleted her tweet without citing any apology or clarification.

Later, Mahua Moitra posted another tweet after getting rid of the percentage of the exposure of SBI to Adani Group.

“$100bn market cap lost in 4 days. LIC, SBI & PNB with large positions in stock. Indian markets slammed for cancelled FPO. Investors losing faith in SEBI. Some storm, some teacup, Mr Finance Secretary,” Mahua Moitra tweeted making a desperate attempt at face-saving.

On January 24 this year, the US-based investment research firm published a 32,000-word report, accusing the Adani Group of stock manipulation and use of tax havens.

The Adani Group trashed the Hindenburg Research report as a “malicious combination of selective misinformation and stale, baseless and discredited allegations”.

On January 29, the Adani group slammed Hindenburg Research with a 413-page report, dismissing allegations levelled by the latter. The Adani group pointed out how the US-based investment research firm sought to benefit from its report attacking the Indian conglomerate.

“This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors,” Adani Group emphasised.

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Searched termsMahua Moitra TMC
OpIndia Staff
OpIndia Staff
Staff reporter at OpIndia

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