TMC Calls for Suspension of SEBI Chief Over Adani Group Allegations

The Trinamool Congress (TMC) demands the suspension of SEBI chairperson Madhabi Buch amid allegations by Hindenburg Research that she and her husband have stakes in offshore funds linked to the Adani group. TMC is calling for investigations by a Joint Parliamentary Committee and one monitored by the Supreme Court.

The Trinamool Congress (TMC) has called for the immediate suspension of SEBI chairperson Madhabi Buch, citing serious allegations made by Hindenburg Research. The US short-seller's report accuses Buch and her husband of holding stakes in offshore funds connected to the Adani group.

According to Hindenburg, these undisclosed investments and obscure offshore funds in Bermuda and Mauritius were purportedly used by Vinod Adani, the elder brother of Gautam Adani, to manipulate stock prices of the Adani Group.

TMC leaders, including Sukhendu Sekhar Ray and Mahua Moitra, are pushing for a Joint Parliamentary Committee (JPC) probe and a Supreme Court-monitored investigation. They stress the need for impartiality in probing potential conflicts of interest.

(With inputs from agencies.)