Congress Demands JPC Probe in SEBI Chairperson Allegations Scandal

The Congress criticized the Modi government over allegations against SEBI chairperson Madhabi Buch by Hindenburg Research. Rahul Gandhi demanded a JPC probe, asserting the market regulator's integrity is compromised. The Congress urged the Supreme Court to investigate, while the SEBI chief denies the claims.

The Congress party has come down hard on the Modi government following allegations made by Hindenburg Research against SEBI chairperson Madhabi Buch. Rahul Gandhi, leading the charge, stated that the market regulator's integrity has been 'gravely compromised' and called for a Joint Parliamentary Committee (JPC) probe into the matter.

Gandhi also pointed fingers at Prime Minister Narendra Modi, questioning his reluctance for a JPC investigation. He stated that it is now 'abundantly clear' why Modi fears such a probe. The Congress emphasized the need for the Supreme Court to take suo motu cognisance of the allegations, suggesting that an independent investigation is imperative given the severity of the situation.

New allegations involve a purported 'quid-pro-quo' involving SEBI chief Buch, which Congress president Mallikarjun Kharge highlighted. In response, the SEBI Chairperson and her husband have denied all accusations, labeling them as baseless. The Adani Group also dismissed the allegations as malicious manipulation of information.

(With inputs from agencies.)