new delhi finance secretary tv somanathan has said the exposure of any nationalised bank or insurance company in adani group companies should not be a cause for any concern for the depositors policy holders or investorsthe exposure of the state bank of india and the life insurance corporation in any company is far below the level where it should concern the investors somanathan told a tv channel on fridayread alsoadani vs hindenburg what you need to knowmumbai adani group called off its 25 billion share sale late on wednesday in a dramatic reversal triggered by the ongoing meltdown of its company stock prices hindenburg research criticised the conglomerate in a january 24 report ahead of the adani enterprises share sale setting off an 86gautam adani says crediting his rise to pm modi a baseless allegationadani group chairman gautam adani has termed as baseless claims that his rise was due to prime minister narendra modi in an interview to a tv channel adani said that the fact both him and the prime minister hailed from gujarat was the apparent reason for such claimsadani groups uturn in fpo explainednew delhi gautam adanis decision to cancel the largest fpo surprised many but given yesterdays market volatility the board felt strongly that proceeding with the fpo would be morally wrong while announcing the cancellation he stated that the interest of my investors is paramount andadani group companies market value has eroded to less than 100 billion after a critical report last week by american firm hindenburg researchshares in the groups flagship firm adani enterprises were repeatedly suspended on friday as a rout triggered by allegations of accounting fraud deepenedthe shares fell 10 percent at the open while adani power adani green energy adani total gas in which french giant totalenergies has a 374 per cent stake and adani transmission were also suspended when they hit their trading stopshowever rating agency fitch said it sees no immediate impact on ratings of adani entities and their securitiesmoodys said it is assessing adani group rated entities financial flexibility in the aftermath of the report the issue of exposure of government controlled entities like sbi and lic to adani companies has also been raised by several opposition partiesthe congress has been alleging that the investments made by public sector lic and sbi into the adani group have been forced by the prime ministeronly an independent investigation will save lic sbi and other institutions forced by the prime minister to invest in the adani group congress leader jairam ramesh saidthe opposition is also demanding constitution of a joint parliamentary committee to look into the adani issuethey have alleged that the government is avoiding a discussion in parliamenthindenburg came out with a damning report alleging financial and accounting fraud by the portstoenergy conglomerate the group has denied all charges and called the report malicious and full of lieshowever adani on wednesday cancelled a 25billion stock sale meant to help reduce debt levels long a concern restore confidence and broaden its