Integrity of SEBI gravely compromised: Rahul Gandhi on Hindenburg row
Rahul Gandhi questions SEBI integrity amid allegations, calls for Supreme Court intervention, raising concerns over Adani scandal
“The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by these allegations,” Rahul Gandhi said.
| Photo Credit: PTI
Leader of Opposition in the Lok Sabha Rahul Gandhi on Sunday (August 11, 2024) said the integrity of Securities and Exchange Board of India (SEBI) has been “gravely compromised” by the allegations against its chairperson and asked whether the Supreme Court would look into this matter suo motu once again.
His remarks came after U.S. short-seller Hindenburg Research on Saturday (August 10, 2024) alleged that market regulator SEBI chairperson Madhabi Buch and her husband had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal.
Hindenburg attacking credibility, attempting character assassination: SEBI chief Madhabi, husband issue detailed rebuttal
In a post on X, Mr. Gandhi said, “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 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?” the former Congress chief said.
“In light of the new and “very serious“ allegations that have surfaced, will the Supreme Court look into this matter suo motu once again,” Gandhi asked.
Hindenburg Research: Allegations against Adani duly investigated; Madhabi Buch disclosed, recused when necessary, says SEBI
“It is now abundantly clear why Prime Minister (Narendra) Modi is so afraid of a JPC (joint parliamentary committee) probe and what it might reveal,” he added.
SEBI Chairman Buch and her husband have denied the allegations as baseless and asserted their finances are an open book.
The Adani group termed the latest allegations malicious and based on manipulation of select public information. The company said it has no commercial relationship with the SEBI chairperson or her husband.
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