Rahul Gandhi, Leader of the Opposition in the Lok Sabha and a prominent Congress leader, has sharply criticised Prime Minister Narendra Modi and industrialist Gautam Adani amid new allegations by Hindenburg Research.
In a video message shared on X (formerly Twitter), 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?
-In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again?
It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal."
Gandhi used a cricket analogy to explain the situation, comparing Sebi’s current role to an umpire in a match who is compromised, thus raising concerns about fairness and transparency in the Indian stock market.
He emphasised that the credibility of Sebi has been compromised, potentially affecting the wealth of small retail investors across the country.
Rahul Gandhi raised pressing questions about accountability, asking why Madhabi Puri Buch has not resigned yet?
He also questioned who would be held responsible if investors lose their money — the Prime Minister, Sebi’s Chairperson, or Gautam Adani?
Gandhi expressed concern over the government’s reluctance to allow a Joint Parliamentary Committee (JPC) to investigate the matter, suggesting that this fear stems from what such a probe might uncover.
The Congress party has reiterated its demand for a JPC inquiry into the alleged scandal.
Meanwhile, Sebi has urged investors to remain calm and cautious, responding to the Hindenburg Research report, which questions Sebi’s actions regarding the Adani group.
Madhabi Puri Buch and her husband, Dhaval Buch have issued a statement refuting the allegations and condemning the attempts to discredit Sebi and assassinate her character.
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