New Delhi: A day after US-based short seller Hindenburg Research alleged that it suspects SEBI’s unwillingness to act against Adani group since its chairperson Madabi Buch had stakes in offshore funds linked to the company, Congress leader and LoP Rahul Gandhi on Sunday alleged that the integrity of the market regulator has been compromised gravely.
Rahul Gandhi shares message on X
Taking to X, the Leader of Opposition in the Lok Sabha wrote, “The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson.”
Hitting out at the government, he said that investors in the country have a number of questions for the government. “Honest investors across the country have pressing questions for the government: Why hasn’t SEBI Chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable—PM Modi, the SEBI Chairperson, or Gautam Adani? In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again?”, he wrote. Adding further, Rahul Gandhi wrote, “It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal”
Earlier in the day, the party issued a statement on the matter and said that the Supreme Court must take suo motu cognizance of the “entire scam” and investigate it under its aegis as SEBI is itself accused of being involved in it.
Left parties demand JPC probe
Left parties too demanded the formation of a Joint Parliamentary Committee (JPC) to probe the allegations levelled by Hindenburg Research against the SEBI chairperson. Releasing a statement, the Communist Party of India (Marxist) said the Hindenburg Research, which had earlier exposed the stock price manipulation by the Adani Group, has now levelled serious charges against(SEBI) chairperson Madhabi Buch and her husband. “Given these serious charges against the head of the regulatory authority, it is necessary that the Chairperson step aside till a proper investigation is conducted,” news agency PTI quoted the party as saying.
