Congress Leaders Demand Investigation into SEBI Chairperson’s Alleged Ties with Adani Group
New Delhi, India – August 11: Allegations from US short seller Hindenburg against SEBI Chairperson Madhabi Buch and her husband have sparked strong political reactions. Opposition parties are calling for a Joint Parliamentary Committee (JPC) to investigate the matter.
Congress Leader Pawan Khera’s Statement
Congress leader Pawan Khera emphasized the need for a JPC, stating, “Nothing will be found through any other measures unless a Joint Parliamentary Committee is formed.” He questioned the government’s awareness of the Buchs’ investments in offshore companies linked to Gautam Adani’s brother, Vinod Adani.
Shashi Tharoor’s Demand
Congress MP Shashi Tharoor demanded a satisfactory explanation or an investigation, saying, “These are serious matters. Any such allegations must be answered satisfactorily or investigated.”
Adani Group’s Response
The Adani Group’s spokesperson dismissed the allegations as “malicious, mischievous, and manipulative.”
SEBI Chairperson’s Rebuttal
Madhabi Puri Buch and her husband issued a joint statement rejecting the allegations and accusing Hindenburg Research of character assassination. They stated, “Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years.”
Background
Hindenburg Research had previously accused the Adani Group of financial irregularities, leading to a significant drop in the company’s stock price. The Supreme Court had directed SEBI to complete its probe into the allegations within three months.
Doubts Revealed
Congress -: Congress is one of the major political parties in India. It has been around for a long time and has had many leaders who have served as Prime Ministers of India.
SEBI -: SEBI stands for the Securities and Exchange Board of India. It is a government agency that regulates the stock market and protects investors in India.
Chairperson -: A Chairperson is the leader or head of an organization or committee. In this case, Madhabi Buch is the head of SEBI.
Adani Group -: The Adani Group is a large company in India that works in various industries like energy, resources, logistics, and more. It is owned by Gautam Adani.
Joint Parliamentary Committee (JPC) -: A Joint Parliamentary Committee (JPC) is a group of members from both houses of the Indian Parliament. They come together to investigate important issues.
Hindenburg -: Hindenburg is a company from the United States that looks into financial frauds and wrongdoings. They are called a ‘short seller’ because they bet against companies they think are doing something wrong.
Pawan Khera -: Pawan Khera is a leader in the Congress party. He often speaks on behalf of the party on various issues.
Shashi Tharoor -: Shashi Tharoor is a Member of Parliament (MP) from the Congress party. He is also a well-known author and former diplomat.
Supreme Court -: The Supreme Court is the highest court in India. It makes the final decisions on important legal matters in the country.
Character assassination -: Character assassination means trying to harm someone’s reputation by making false or unfair statements about them.
