August 11th 2024.
On a calm Sunday in New Delhi, Rahul Gandhi, the Leader of Opposition in the Lok Sabha, expressed his concerns about the recent allegations against the chairperson of SEBI, the market regulator. He questioned whether the Supreme Court would take a closer look at this matter on its own accord once again.
The allegations, made by US short-seller Hindenburg Research, claimed that SEBI chairperson Madhabi Buch and her husband had stakes in offshore funds that were allegedly involved in the Adani money siphoning scandal. In response to this, Gandhi took to his social media platform, X, and wrote about how the integrity of SEBI has been compromised. He also pointed out that small retail investors, whose wealth is safeguarded by SEBI, have been left with pressing questions.
Gandhi's post read, "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 - PM Modi, the SEBI Chairperson, or Gautam Adani?" These are valid concerns that need to be addressed, especially in light of the new and "very serious" allegations that have surfaced.
Gandhi also raised the question of whether the Supreme Court would once again take a suo motu action in this matter. He added, "It is now abundantly clear why Prime Minister Modi is so afraid of a JPC (Joint Parliamentary Committee) probe and what it might reveal." This statement hints at the possible involvement of higher authorities in this scandal.
SEBI Chairman Buch and her husband have denied the allegations, stating that their finances are an open book. On the other hand, the Adani group has called the allegations malicious and based on manipulation of selective public information. They have also clarified that they have no commercial relationship with the SEBI chairperson or her husband.
The gravity of this situation cannot be ignored, and it is crucial for the government to address the concerns raised by Gandhi and the public. The integrity of SEBI, an institution entrusted with protecting the interests of small investors, must be upheld. The truth behind these allegations must be revealed, and those responsible must be held accountable. It is a matter of the hard-earned money and trust of honest investors, and the government must take swift and appropriate action.
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