Hindenburg Report: Rahul Gandhi Calls for SEBI Chairperson’s Resignation, JPC Probe

Congress leader and Leader of the Opposition in the Lok Sabha, Rahul Gandhi, has launched a scathing attack on the Securities and Exchange Board of India (SEBI) following the release of a Hindenburg Research report. The report alleged that SEBI Chairperson Madhabi Puri Buch was linked to obscure offshore entities involved in the Adani money siphoning scandal. Gandhi has called for Buch’s resignation and a Joint Parliamentary Committee (JPC) investigation into the claims.

The Hindenburg Research report claims that both Buch and her husband held shares in firms directly implicated in the scandal. This revelation has fueled criticism from opposition parties against the market regulator.

In a video posted on social media, Gandhi questioned, “Why hasn’t SEBI Chairperson Madhabi Puri Buch resigned yet?” He emphasized that the integrity of SEBI, tasked with protecting the interests of small investors, has been severely compromised by these allegations. Gandhi further stated, “Honest investors across the country have pressing questions for the government:

– Why hasn’t SEBI Chairperson Madhabi Puri Buch resigned yet?
– If investors lose their hard-earned money, who will be held accountable—Prime Minister Modi, the SEBI Chairperson, or Gautam Adani?
– In light of these serious new allegations, will the Supreme Court intervene suo moto once again?

It is increasingly clear why Prime Minister Modi is apprehensive about a JPC probe and what it might uncover.”

In response, SEBI issued a statement urging investors to remain calm and exercise caution when reacting to the report. They advised investors to consider the disclaimer in the report, which notes that the authors may hold short positions in the securities discussed.