Congress Calls for Probe into SEBI Chief Amidst New Allegations

The Congress party has demanded a Joint Parliamentary Committee probe into allegations against SEBI Chairperson Madhabi Buch, following claims by Hindenburg Research. Congress leaders, including Rahul Gandhi, questioned Prime Minister Modi's reluctance for a probe. The party urged the Supreme Court to investigate, given SEBI's alleged involvement in the matter.

The Congress party, on Sunday, criticized the Modi government following allegations by Hindenburg Research against SEBI Chairperson Madhabi Buch. Rahul Gandhi stated that the integrity of the market regulator has been 'gravely compromised' and demanded a Joint Parliamentary Committee (JPC) probe into the matter.

Gandhi also criticized Prime Minister Narendra Modi, claiming it is 'abundantly clear why PM Modi is so afraid' of a JPC probe. The Congress urged the Supreme Court to take suo motu cognizance of the situation and investigate, as they believe SEBI itself is involved in the alleged scam.

Congress President Mallikarjun Kharge highlighted that SEBI had previously cleared Adani before the Supreme Court after the January 2023 Hindenburg Report revelations. However, new allegations suggest a 'quid-pro-quo' involving the SEBI chief. Kharge emphasized the need to protect small and medium investors and insisted on a JPC inquiry.