New Delhi: Leader of Opposition in Lok Sabha and Congress leader Rahul Gandhi launched a scathing attack on Prime Minister Narendra Modi and industrialist Gautam Adani, following fresh allegations by Hindenburg Research. Gandhi also raised questions about why Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), has not yet resigned amid the ongoing controversy.In a post on X, Gandhi expressed serious concerns about the compromised integrity of SEBI, the regulatory body responsible for safeguarding small retail investors wealth. He compared the situation to a cricket match where the umpires impartiality is in doubt. “Imagine an international cricket match between India and Australia, where everyone knows the umpire is compromised. What would happen to the fairness and outcome of the match This is exactly what is happening in the Indian stock market,” Gandhi stated in a video message.Gandhi demands accountabilityGandhi voiced the concerns of honest investors across the nation, questioning the accountability of the government and SEBI. “Why hasnt 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, will the Supreme Court take suo moto cognizance of this matter once again” he asked.Gandhi further argued that the Prime Ministers reluctance to allow a Joint Parliamentary Committee (JPC) probe reveals deeper issues. Meanwhile, Hindenburg Research alleged that SEBIs reluctance to act against the Adani Group might stem from Buchs personal financial interests in offshore funds linked to the conglomerate.Congress demands JPC probeEarlier, Congress President Mallikarjun Kharge called for a JPC inquiry into what he termed as a “massive scandal.” He emphasized the need to protect small and medium investors who rely on SEBIs integrity, stating, “A JPC inquiry is imperative to investigate this massive scandal. Until then, concerns persist that PM Modi will continue to shield his ally, compromising Indias constitutional institutions.”In response, SEBI urged investors to remain calm and exercise caution when reacting to such reports. Madhabi Puri Buch and her husband Dhaval Buch issued a statement defending SEBI and denouncing the allegations as an attempt at character assassination.
