August 13th 2024.
In the midst of the ongoing controversy surrounding the Hindenburg allegations, the Congress party announced on Tuesday that it will be launching a nationwide protest on August 22nd. The protest aims to shine a light on the recent Adani issue and demand the resignation of SEBI Chief Madhabi Puri Buch, as well as a Joint Parliamentary Committee probe into the matter.
The decision to hold this protest was made after Congress President Mallikarjun Kharge held a meeting with all general secretaries, state unit chiefs, and AICC state in-charges in New Delhi. The party is gearing up for the upcoming round of assembly polls and discussed various organizational matters, as well as national issues of importance for election preparedness.
Speaking about the reason behind the protest, Kharge stated, "The shocking revelations of a nexus between SEBI and Adani need to be thoroughly investigated. The investments of small shareholders in the stock market cannot be put at risk." He also called for the immediate resignation of the SEBI chairperson and the formation of a JPC to look into the matter.
During the meeting, it was unanimously decided that the party will stage a nationwide protest on August 22nd, demanding the resignation of the SEBI chief and a JPC probe into the Adani issue. This comes after Hindenburg Research's allegations on August 10th, which claimed that Madhabi Puri Buch and her husband Dhaval Buch held stakes in offshore funds involved in the alleged Adani money siphoning scandal.
The allegations have sparked a political battle, with the Congress and other INDIA bloc parties demanding the removal of Buch and a JPC probe, while the BJP has accused the opposition of being part of a conspiracy to create financial instability in India. However, Buch and her husband have refuted the allegations, stating that they are baseless and that Hindenburg Research is trying to attack SEBI's credibility and tarnish its chief's character instead of responding to a show-cause notice.
In response to the allegations, SEBI has stated that they have thoroughly investigated the matter and that Buch has recused herself from any potential conflicts of interest. The Adani Group has also denied any wrongdoing and called the allegations malicious and based on selective public information. They have also clarified that they have no commercial relationship with the SEBI chairperson or her husband.
It is clear that this issue has stirred up a lot of debate and concern, and the Congress party is determined to hold the government accountable and ensure that justice is served. The upcoming nationwide protest on August 22nd will be an important step in this direction.
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