Rahul Gandhi, the leader of the opposition in the Lok Sabha, stated on Sunday that the accusations made against the chairman of SEBI have gravely compromised the integrity of SEBI. He further questioned if the Supreme Court would again investigate the case on its own initiative.
His comments on Saturday 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. In a post on X, 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?”
Gandhi questioned whether the Supreme Court will re-examine this case suo motu in light of the recent and very serious allegations. “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 said.
The charges have been refuted by SEBI Chairman Buch and her spouse, who maintain that their financial records are transparent. The Adani group described the most recent claims as dishonest and predicated on selective manipulation of public data. As per SEBI, there is no business tie between the chairman of SEBI and her spouse.
(with inputs from PTI)