Controversy Surrounds SEBI Chief Amid Allegations by Hindenburg Research

The Congress has called for a Joint Parliamentary Committee (JPC) probe following Hindenburg Research's allegations against SEBI Chairperson Madhabi Buch. The scandal involves alleged conflicts of interest in the investigation of Adani Group. SEBI and Buch have denied the claims, but concerns over regulatory transparency persist.

In response to allegations by Hindenburg Research against SEBI Chairperson Madhabi Buch, the Congress has demanded immediate government action to eliminate conflicts of interest in the regulator's investigation of the Adani Group, reiterating the need for a Joint Parliamentary Committee (JPC) probe.

The opposition party emphasized that accusations of collusion involving high-ranking officials can only be addressed through a JPC. Congress President Mallikarjun Kharge criticized SEBI for previously clearing Adani, an associate of PM Modi, despite the Hindenburg revelations in January 2023.

Hindenburg alleged that SEBI's Buch and her husband had stakes in offshore funds linked to Adani's money siphoning scandal. While SEBI and Buch have denied the claims, the Adani Group dismissed the allegations as malicious. The Congress pointed out that SEBI's locked Twitter account limits public access and transparency, raising further questions.

(With inputs from agencies.)