Political Turmoil Erupts Over Hindenburg Research Allegations Against SEBI Chief

The accusations from Hindenburg Research against SEBI chairperson Madhabi Buch have ignited political tension in India, with opposition parties demanding her removal and a Joint Parliamentary Committee (JPC) probe. The ruling BJP has countered, alleging a conspiracy to create financial instability in the country. Both sides are seeking intervention from the Supreme Court.

The allegations from Hindenburg Research against SEBI chief Madhabi Buch have sparked a political storm in India. Opposition parties, including Congress, are demanding her ouster and a Joint Parliamentary Committee (JPC) probe, while the ruling BJP accuses the opposition of conspiring to destabilize the financial sector.

Hindenburg Research alleges that SEBI Chairperson Buch and her husband have stakes in offshore funds linked to the Adani money siphoning scandal. The Buchs have dismissed these claims as baseless, accusing Hindenburg of attempting to undermine SEBI's credibility instead of responding to a show cause notice for violations in India.

The controversy has led to renewed calls for a thorough investigation, with opposition parties urging the Supreme Court to step in. BJP leaders, meanwhile, allege that the allegations are part of a larger conspiracy to create financial chaos in India.

(With inputs from agencies.)