Hindenburg Report: In the Hindenburg report, many allegations were made against SEBI Chairman Madhabi Puri Buch and her husband. Congress-TMC surrounded the Center, made this big demand

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Opposition Attack PM Narendra Modi on Hindenburg Report: After the new report of Hindenburg Research, the opposition has attacked the central government. In this report, many allegations have been made against Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband. The opposition has demanded an immediate investigation into the matter.

Congress General Secretary Jairam Ramesh issued a statement on behalf of the Congress on Saturday night, saying, “SEBI’s strange reluctance to investigate the Adani megascam was seen for a long time, especially on the part of the Supreme Court’s expert committee.. That committee had reported in its report that SEBI had weakened the reporting requirements related to ultimate beneficial (ie actual) ownership of foreign funds in 2018 and removed it completely in 2019.” According to Jairam Ramesh, the latest allegations from Hindenburg Research raise new questions about two consecutive 2022 meetings with Buch soon after Gautam Adani was appointed as SEBI chairman.

Our statement on Hindenburg’s latest revelations. pic.twitter.com/AZqDuRZrTa

— Jairam Ramesh (@Jairam_Ramesh) August 11, 2024
Mahua Moitra also demanded investigation

Meanwhile, Trinamool Congress MP Mahua Moitra said that in true Adani style, SEBI Chairman is also an investor in his group. Crony capitalism at its finest. Moitra also demanded that the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) investigate the alleged money laundering.

What does Hindenburg’s new report say?

US-based short seller Hindenburg Research said in its new report on Saturday that SEBI chairperson Madhabi Buch and her husband Dhaval Buch hold stakes in offshore entities linked to alleged financial misdeeds of the Adani Group. Citing whistleblower documents, it claimed that these entities were part of a network used by Gautam’s elder brother Vinod Adani to launder money. According to the report, from April 2017 to March 2022, Buch held 100 per cent stake in an offshore Singapore consulting firm called Agora Partners. Two weeks after her appointment as SEBI chairperson on March 16, 2022, she quietly transferred the shares to her husband. The report further said that SEBI’s “impartiality” in conducting investigations against the Adani Group is ‘questionable’ due to “potential conflict of interest”.