Congress Questions SEBI Chief Amid Hindenburg Allegations

The Congress party criticized SEBI Chief Madhabi Buch using the Latin phrase 'Quis Custodiet Ipsos Custodes' after US short seller Hindenburg accused her and her husband of owning stakes in obscure offshore funds related to the Adani money-siphoning case. Hindenburg claims SEBI has shown little interest in probing these allegations.

The Congress on Saturday leveraged the Latin phrase 'Quis Custodiet Ipsos Custodes'—'who will guard the guards themselves'—to target SEBI head Madhabi Buch, following accusations from US short seller Hindenburg.

Hindenburg alleged that Buch and her husband held stakes in obscure offshore funds implicated in the Adani money-siphoning case. In response to these accusations, Congress general secretary Jairam Ramesh questioned the matter publicly on the microblogging platform X.

Ramesh pointed out the sudden adjournment of Parliament, suggesting it was linked to these emerging allegations. Hindenburg, in a blog post, criticized SEBI's lack of action despite their 18-month probe, highlighting connections between Buch and the controversial offshore funds. SEBI has been investigating the Adani group's offshore entities but has yet to conclude its findings.

(With inputs from agencies.)