After Rahul Gandhi stated on Sunday that the accusations made against the chairman of SEBI have gravely compromised the integrity of SEBI, the BJP slammed the Congress leader for raising questions on the integrity of Indian stock markets based on the allegations by US-based short seller Hindenburg.
Rahul Gandhi had said that the allegations have gravely compromised the integrity of SEBI and further questioned if the Supreme Court would again investigate the case on its own initiative.
His comments came after US short-seller Hindenburg Research claimed that Madhabi Buch, the chairman of market regulator SEBI, and her husband owned investments in unidentified offshore funds that were purportedly utilised in the Adani money-sucking scam.
Slamming Rahul Gandhi for his comments, BJP leader Amit Malviya took to X and said, “The Leader of Opposition is now openly inciting and seeding doubt about the genuineness of the Indian stock markets. This blatant attempt to undermine confidence in our economy reveals the true intention of Rahul Gandhi, which is nothing but the destruction of India.”
He said that Gandhi’s remarks come despite the expert committee appointed by the Supreme Court concluding there was no regulatory failure regarding the allegations of price manipulation made by Hindenburg.
“On Jan 3, 2024, the Supreme Court, led by CJI DY Chandrachud, observed that no willful or deliberate violations were done by SEBI,” Malviya said.
Meanwhile, the SEBI Chairman and the Adani Group have labelled these allegations as “baseless” and “malicious”. Madhabi Puri Buch has also pointed out that the latest release by Hindenburg comes after SEBI took enforcement action and issued a showcause notice to them in July.
The Adani group described the most recent claims as dishonest and predicated on selective manipulation of public data.