“Rahul Gandhi Targets Adani, SEBI Chair, and PM Modi in New Allegations”
Rahul Gandhi Targets PM Modi, Adani Group, and SEBI Chairperson Amid Fresh Hindenburg Allegations
New Delhi August 11,2024
Leader of Opposition in Lok Sabha and Congress leader Rahul Gandhi has intensified his criticism of Prime Minister Narendra Modi, industrialist Gautam Adani, and SEBI Chairperson Madhabi Puri Buch, following the latest allegations by Hindenburg Research. Gandhi questioned why the SEBI Chairperson has not yet resigned, given the serious accusations that have compromised the integrity of India’s securities regulator.
In a post on X (formerly Twitter), Gandhi compared the situation to a compromised umpire in an international cricket match between India and Australia, where the fairness of the match would be in doubt. He likened this scenario to what is currently happening in the Indian stock market, expressing concern over the impact on retail investors.
Gandhi raised several 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—Prime Minister Modi, the SEBI Chairperson, or Gautam Adani?
- In light of these new and serious allegations, will the Supreme Court intervene suo moto once again?
These questions have fueled speculation about why Prime Minister Modi is reportedly avoiding a Joint Parliamentary Committee (JPC) probe, and what such an investigation could potentially reveal.
Earlier in the day, Congress President Mallikarjun Kharge also demanded a JPC inquiry to investigate what he described as a “massive scandal.” Kharge accused SEBI of previously clearing Adani, a close associate of PM Modi, following the January 2023 Hindenburg Report, and warned that the new allegations point to a potential quid-pro-quo involving the SEBI Chief.
SEBI, in response, urged investors to remain calm and exercise due diligence before reacting to such reports. Meanwhile, Madhabi Puri Buch and her husband Dhaval issued a detailed statement, rejecting the allegations and describing them as an attempt to undermine SEBI’s credibility and assassinate the character of the SEBI Chairperson.
