The Congress party's demand for a parliamentary probe follows Hindenburg Research's intensified conflict with India’s stock market regulator, SEBI, and its chief, Madhabi Buch.
Digital Desk: The Congress party declared a nationwide agitation scheduled for August 22 in response to the Hindenburg report, which alleges a connection between the Securities and Exchange Board of India (SEBI) chairman and the Adani Group. The party is calling for the removal of Madhabi Buch from her position as SEBI chairman due to the allegations made by the US short-seller.
Congress leader Jairam Ramesh made the announcement following a meeting with party general secretaries, in-charges, and state leaders, chaired by Mallikarjun Kharge.
Ramesh stated, “We discussed one of the largest scams currently affecting the country—the Hindenburg revelations concerning Adani and SEBI.”
He further explained that the party has unanimously decided to organize nationwide protests, demanding a joint parliamentary committee (JPC) investigation into the alleged Adani scandal. “We have decided to launch a nationwide agitation, demanding two key actions: a JPC inquiry into the Adani mega scam, which implicates the Prime Minister and reveals severe lapses in financial market regulation,” Ramesh added.
The Congress party's demand for a parliamentary probe follows Hindenburg Research's intensified conflict with India’s stock market regulator, SEBI, and its chief, Madhabi Buch. The research firm has accused Buch of conflicts of interest and financial misconduct related to the Adani Group. Hindenburg Research has cited whistleblower documents indicating that Buch and her husband were involved in offshore entities linked to the Adani scandal.
SEBI, along with Madhabi Buch and her husband, have firmly denied any allegations of leniency towards Gautam Adani and his group. In a joint statement, the Buchs dismissed the claims as “baseless allegations and insinuations” lacking any truth.
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