Rahul on Hindenburg report: ‘Who will be accountable if investors lose money?’
Lok Sabha LoP says SEBI’s integrity “gravely compromised” and it is now “abundantly clear” why PM Modi is “so afraid” of a JPC probe and “what it might reveal”
Rahul Gandhi, Leader of Opposition in Lok Sabha, posted a video on social media platform X on Sunday (August 11), alleging that the integrity of the Securities and Exchange Board of India (SEBI) had been “gravely compromised” by the allegations made against its chairperson Madhabi Puri Buch by US-based short seller Hindenburg Research.
The Congress leader argued that there is a “significant risk” in the Indian stock market because the institution that governs it is compromised, and went on to explain what the “explosive” allegations mean. He also claimed that retail investors and honest investors would now ask the government why the SEBI chairperson has not resigned yet and whether the Supreme Court would once again suo motu look into the fresh allegations.
Who will be responsible?
He also asked if investors lose their hard-earned money, who will be held accountable — Prime Minister Narendra Modi, SEBI chairperson Madhabi Buch, or Adani group head Gautam Adani?
He also added that it was now “abundantly clear” why PM Modi is “so afraid” of a Joint Parliamentary Committee probe and “what it might reveal”.
After the Hindenburg report came to light, both Adani Group and the SEBI chairperson have rubbished the allegations. Madhabi Buch and her husband have issued another statement clarifying their position. The SEBI has issued its own statement saying that the short seller’s claim that it did not investigate the allegations against the Adani group was false and its probe is near completion.