Rahul Gandhi Criticizes PM Modi Over Latest Hindenburg Report
Rahul Gandhi, the Leader of Opposition in the Lok Sabha, has intensified his criticism of Prime Minister Narendra Modi, linking recent allegations from the Hindenburg Research report to fears about a Joint Parliamentary Committee (JPC) probe into the Adani Group.
On Sunday, Gandhi highlighted concerns raised by Hindenburg Research, which recently accused SEBI Chairperson Madhabi Buch of compromising the integrity of India’s securities regulator. According to Hindenburg, Buch’s alleged connections to offshore funds linked to the Adani Group cast serious doubts on SEBI’s impartiality.
“The latest Hindenburg report exposes why Prime Minister Modi is so apprehensive about a JPC investigation,” Gandhi said in a video message shared on X. He emphasized that the integrity of SEBI, which is supposed to protect retail investors, is under serious scrutiny due to the allegations against its head.
Gandhi called for immediate answers from the government, questioning why Madhabi Buch has not resigned amid these serious allegations. He urged the Supreme Court to reconsider the matter suo moto given the gravity of the new allegations.
In his statement, Gandhi posed several questions to the government and SEBI. “Why hasn’t Sebi Chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable — PM Modi, the SEBI Chairperson, or Gautam Adani? Will the Supreme Court review this issue again in light of the new allegations?” he asked.
The fresh allegations by Hindenburg Research suggest that Buch and her spouse might have secretly invested in offshore funds based in Bermuda and Mauritius. These funds are allegedly connected to Vinod Adani, Gautam Adani’s brother, who is accused of manipulating stock prices.
BJP’s Response:
In response, the ruling BJP has denounced the opposition’s claims. BJP officials have accused Congress and other opposition parties of orchestrating a conspiracy to create financial turmoil. They have dismissed the Hindenburg report as part of a broader effort to discredit India’s financial institutions.
BJP spokesperson Sudhanshu Trivedi criticized the opposition’s stance, labeling it as an attempt to destabilize the financial sector. “The short-selling firm, which previously targeted the Adani Group, is now under investigation by Indian agencies,” Trivedi stated.
He continued, “The opposition’s echoing of Hindenburg’s claims reveals a clear intent to sow chaos and instability, particularly within the financial sector.”
The unfolding situation continues to draw significant attention from both political circles and the public, as the credibility of India’s financial regulators and major political figures remains under intense scrutiny.
