Rahul Gandhi and Mallikarjun Kharge (ANI)
The Indian National Congress is set to stage a nationwide protest today in response to allegations made by US-based short seller Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch. The party is demanding Buch’s resignation and a Joint Parliamentary Committee (JPC) investigation into the Adani Group's alleged financial misconduct.
Earlier this month, Hindenburg Research released a report accusing Madhabi Puri Buch and her husband of holding stakes in offshore entities linked to the Adani Group. The report alleges that these entities are involved in financial misconduct. This comes 18 months after Hindenburg's initial "damning report" on the Adani Group, where the research firm criticized SEBI’s "surprising lack of interest" in investigating Adani’s undisclosed web of offshore shell companies, particularly those in Mauritius.
Despite these serious allegations, both Madhabi Puri Buch and Dhaval Buch have denied any wrongdoing, calling the accusations baseless. They assert that their financial dealings are transparent and open to scrutiny. Similarly, the Adani Group has dismissed the allegations as malicious and manipulative, claiming they are based on selective public information.
The Congress party is not satisfied with these denials and is pushing for a JPC probe to uncover the truth. Senior Congress leader and Rajya Sabha MP Jairam Ramesh announced that the party would hold 20 press conferences across the country to demand a thorough investigation into what they call the "Modani Maha Ghotala." According to Ramesh, the alleged scandal has far-reaching consequences for the economy and millions of small investors who rely on the integrity of capital market regulators like SEBI.
अडानी महाघोटाले में JPC जांच एवं तत्काल कार्रवाई की मांग को लेकर आज जयपुर में कांग्रेस प्रदेशाध्यक्ष श्री @GovindDotasra जी के नेतृत्व में प्रदेश कांग्रेस विरोध-प्रदर्शन करेगी।#ModaniMahaGhotala pic.twitter.com/9fK4V28Nx9
— Dr.Sanjeev Rajpurohit (@DrSanjeevRajp4) August 22, 2024
In Delhi, the Congress has planned a significant protest at Jantar Mantar from 10 AM to 1 PM. Party spokesperson Supriya Shrinate emphasized the need for a JPC probe, arguing that only such an investigation, led by domain experts, could reveal the full extent of the Adani Group's "shady dealings." She accused SEBI of misleading the Supreme Court with false information, despite the court's directives to probe the Adani Group's activities.
Shrinate further claimed that the Modi government has been silent on the Hindenburg report, indicating a possible collusion to protect the Adani Group. She alleged that every effort is being made to make Adani the richest man in the country by manipulating investigative agencies like the ED, CBI, and Income Tax department. According to Shrinate, rules related to foreign investment and policy have been altered to favor Adani's growth and conceal money laundering activities.
अडानी - SEBI महाघोटाले पर दिल्ली प्रदेश कांग्रेसी कमिटी में @INCDelhi के अध्यक्ष @devendrayadvinc जी और संचार प्रमुख @INCanilbhardwaj जी के साथ प्रेस को संबोधित किया https://t.co/Kyw1JKH01L
— Supriya Shrinate (@SupriyaShrinate) August 21, 2024
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