New Delhi: On Tuesday, the Congress party announced a nationwide protest scheduled for August 22 in response to the Hindenburg Research report alleging a connection between the Securities and Exchange Board of India (Sebi) chairman and the Adani Group. The party is calling for the removal of Sebi Chairman Madhabi Buch following these allegations.
Congress leader Jairam Ramesh made the announcement after a meeting of party general secretaries, incharges, and state chiefs, chaired by Mallikarjun Kharge. Ramesh described the Hindenburg revelations as "one of the biggest scams happening in the country right now," highlighting concerns about the alleged link between Adani and Sebi.
“We unanimously decided to organize a nationwide agitation demanding two things: first, a Joint Parliamentary Committee (JPC) inquiry into the Adani mega scam, in which the Prime Minister is implicated, and second, the investigation into severe compromises in financial market regulation,” Ramesh stated.
The Congress party's call for a parliamentary probe follows Hindenburg Research's intensification of its conflict with India's stock market regulator, Sebi, and its chairman, Madhabi Buch. The report alleges conflicts of interest and instances of financial impropriety linked to the Adani Group.
Hindenburg Research has claimed that whistleblower documents reveal Sebi chief Madhabi Puri Buch and her husband held stakes in obscure offshore entities involved in the Adani money siphoning scandal. The US-based short-seller cited these documents to substantiate its allegations.
In response, Sebi, along with Madhabi Buch and her husband, has strongly denied any wrongdoing or leniency towards Gautam Adani and his group of companies. In a joint statement, the Buchs dismissed the claims as "baseless allegations and insinuations" with no factual basis.
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