Rahul Gandhi, the Leader of Opposition in Lok Sabha, expressed serious concerns regarding new allegations made by US short-seller Hindenburg Research against SEBI Chairperson Madhabi Buch, suggesting that the integrity of the securities regulator has been severely compromised.
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.
Honest investors across the country have pressing questions for the government:
– Why… pic.twitter.com/vZlEl8Qb4b
— Rahul Gandhi (@RahulGandhi) August 11, 2024
Link to PM Modi and JPC Probe:
He also pointed out that the recent report by Hindenburg Research highlights why Prime Minister Narendra Modi might be avoiding a Joint Parliamentary Committee (JPC) investigation into these allegations.
Hindenburg Research released a report suspecting that SEBI’s reluctance to take action against the Adani Group might stem from Madhabi Buch’s alleged involvement in offshore funds linked to the conglomerate.
Call for Accountability:
In a video message, Rahul Gandhi questioned why SEBI Chairperson Madhabi Puri Buch has not resigned yet. He noted that investors across the country are seeking answers and accountability.
Demand for Supreme Court Intervention:
Gandhi urged the Supreme Court to take suo moto action given the seriousness of the new allegations. He emphasized that the reluctance of Prime Minister Modi to endorse a JPC probe is becoming increasingly clear and concerning.
Hindenburg’s Specific Allegations:
The US firm accused Buch and her husband of secretly holding investments in offshore funds based in Bermuda and Mauritius, reportedly the same funds allegedly used by Vinod Adani, brother of Adani Group Chairman Gautam Adani, to manipulate stock prices through round-tripping of funds.
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