Hindenburg’s latest report accuses Bucher and her husband of holding shares in offshore funds allegedly linked to the Adani money-siphoning scandal.
“Adani, a close associate of the Prime Minister”
Congress president Mallikarjun Kharge said Sebi had previously cleared “Adani, a close associate of Prime Minister Modi” in Parliament. Supreme Court Following revelations by Hindenburg Research in January 2023.
However, he noted that new allegations of “quid pro quo” had now emerged involving Chief Sebi.
“The middle-class small and medium investors who invest their hard-earned money in the stock market need to be protected because they put their trust in Sebi. A joint parliamentary committee (JPC) inquiry is imperative to probe this massive scandal,” he explain.
“Until then, concerns remain that Prime Minister Modi will continue to protect his allies, thereby damaging the constitutional institutions India has painstakingly built over seven decades,” Haq said in a post on
Conspiracies and deliberate attacks on the Indian economy: Rajiv Chandrasekhar
In response, Bharatiya Janata Party leader Rajiv Chandrashekhar dismissed the accusations, calling them part of a “conspiracy” to destabilize India’s financial system. He also accused the opposition of seeking foreign aid to undermine independent regulator Sebi and sow chaos in the country.
“This is a conspiracy and a group of forces are working together to destabilize the Indian economy and discredit our regulators, stock markets and financial system. This is something we should never allow as our country is on a path of expansion and growth on the road.
The old party also questioned why Josebi’s official Twitter account is currently locked and inaccessible to the public.
Jairam questions Sebi’s ‘locked’ X account
Congress general secretary Jairam Ramesh posted on X that Sebi’s official Twitter account has been “locked” and therefore inaccessible to the public.
“Some reports suggest it may have been locked down for some time, but this continued inaccessibility is puzzling at a time when evidence of conflicts of interest among its top leadership has emerged. The Modani scandal has been brewing for several It’s been months and Sebi’s inaction has been disappointing,” Ramesh said.
He expressed concern about why the account was locked, saying: “This opacity raises questions as to whether the platform has been quietly removing past announcements/press releases that may have led to the organization/ Its leadership has been accused in the Modani scam,” Ramesh said.
Opposition’s foreign links create instability in Parliament: Sudhanshu Trivedi
Meanwhile, BJP MP and spokesperson Sudhanshu Trivedi hinted at Congress’ involvement in the Hindenburg report and said such foreign reports are released only at the beginning of a parliamentary session.
Speaking to the news agency, Trivedi said, “In the past few years, whenever Parliament was sitting, a foreign report was released. The BBC documentary was released before Parliament sat. The Hindenburg report was released in January when Parliament sat. Previously released reports were sometimes reports on religious freedom, sometimes reports on foreign farmers, and sometimes statements from Greta Thunberg. Today, when the opposition is pushing ahead with such reports. Suspicion that the opposition has some link with abroad creates instability and anarchy during every parliamentary session in India.
India bloc allies target ‘Adani-Sebi’ nexus, attack BJP government
Allies of the Indian bloc are also concerned about the “Adani-Sebi” relationship highlighted in the Hindenburg report. The Trinamool Congress, Aam Aadmi Party and CPI(M) have criticized the ruling National Democratic Alliance government led by the Bharatiya Janata Party for its close ties to industrialist Gautam Adani.
AAP MP Sanjay Singh claimed that the Modi government is mired in corruption and trying to protect “their friend Adani”.
In a post on The same Sebi chairman who has asked Modi to handle the alleged scam with Adani should reconsider his decision.
TMC leader Mahua Moitra also posted on And PMLA cases?
Hindenburg report Adani’s regulatory immunity linked to Sebi chairman
Earlier on Saturday, U.S. short-seller Hindenburg Research made new accusations, saying “We previously noted that Adani is fully confident that it can continue to operate without the risk of serious regulatory intervention, indicating that this may This is explained through the relationship between Adani and Sebi Chairman.
The report goes on to assert, “What we did not realize was that the current chairperson of Sebi and her husband Dhaval Buch hid holdings in the exact same offshore Bermuda and Mauritius funds, which were found to be in the same complex nested structure. In, by Vinod Adani.
Hindenburg Research said the new charges are based on documents provided by whistleblowers and investigations by other entities.
In January 2023, Hindenburg issued a report accusing the Adani Group of financial irregularities, causing the company’s stock price to fall sharply. Adani Group strongly denied the claims at the time.
The Hindenburg Report accused Adani Group of stock manipulation and fraud, claiming the group had inflated its share price. Shares in Adani Group companies fell sharply after the allegations were made public.
In January 2024, the Supreme Court had dismissed a plea to transfer the probe into stock price manipulation allegations to the Special Investigation Team (SIT) and directed market regulator Sebi to complete the probe into two pending cases within three months.
Earlier this year, the Supreme Court also rejected a request to review its previous judgment requiring Sebi to investigate the Adani-Hindenburg case.
Adani Group rejects Hindenburg claim
However, the Adani Group has strongly rejected Hindenburg Research’s recent accusations, calling it “interference by a desperate organization with a complete disregard for Indian laws”.
