Congress leader and opposition leader Rahul Gandhi has raised questions on SEBI on the basis of Hindenburg Research report. Through this they have cornered the central government. Rahul Gandhi said that the integrity of SEBI, the regulator responsible for protecting the assets of small retail investors, has been seriously hurt by the allegations against its chairman.
Rahul Gandhi said that honest investors across the country are asking questions to the government, “Why has SEBI Chairperson Madhabi Puri Buch not resigned yet? Who will be responsible if investors lose their hard-earned money?” Prime Minister Modi, SEBI Chairman or Gautam Adani? In view of the new and very serious allegations that have come to light, will the Supreme Court investigate this matter again on its own suo motu?”
Congress also raised questions on SEBI, surrounded the center
Congress spokesperson Supriya Shrinet earlier said that the Adani mega scam has come to light. He said that earlier when all the allegations were made, the matter went to SEBI but nothing was done. Supriya Shrinet said that now it came to light that the SEBI Chairman himself had invested in that fund.
Congress spokesperson said that its connection is with Vinod Adani, who is brother of Gautam Adani. He said that the Butch couple had invested in Singapore. Citing the report, he said that this investment was made between 2017 and 2022, and this happened when Madhabi Buch was a full-time member of SEBI, and she had 100 percent stake in the Singapore company.
Also read: What questions are experts raising on Hindenburg’s new report regarding Adani and SEBI?
Questions raised on SEBI Chief’s offshore investment
The Congress spokesperson said that Butch had invested in funds linked to offshore entities linked to Gautam Adani’s brother Vinod Adani. According to Supriya Shrinet, the report mentions Agora Consulting, which is a firm owned by Madhabi Buch. This company has got a lot of business in India also. The report discusses her rise from owning Agora to becoming the head of SEBI, and also discusses how Butch handed over the leadership of the company to her husband.
Quoting Hindenburg Research report, Supriya Srinet said that the SEBI Chief’s husband is a senior advisor in Blackstone, and he promotes REIT (Real Estate Investment Trust). Congress said that the report has mentioned the nexus between Butch’s offshore investments, his consulting firm Agora and Blackstone.
Congress raised these questions
Congress asked that now the main question is whether Madhabi Buch will continue as SEBI chief? He said, because the report reduces the credibility of the regulator and it is also damaging the integrity of the Prime Minister. The Congress spokesperson also raised many questions. Supriya Shrinet asked whether Butch had invested in Vinod Adani-linked IP Plus 1 fund in 2015?
Also read: ‘JPC investigation into Adani-SEBI chairperson connection’, Manish Tiwari reiterated demand after Hindenburg report
The Congress spokesperson asked when did she buy the stake and transfer it to her husband? He asked that when she was a full time director in SEBI, had she disclosed the funds held by her and Agora Consulting?
Supriya Shrinet asked which companies are giving business to Agora Consulting and which institutions are still giving business? Has she told SEBI that her husband is part of Blackstone, a major player in REITs? Has he held direct meetings with Adani, Blackstone or their associated companies?
What did BJP say on Hindenburg report?
BJP MP Sudhanshu Trivedi earlier said, “For the last few years, whenever the Parliament session begins, a foreign report is released. Just before the Parliament session, a BBC documentary was released. Hindenburg in January, just before the Parliament session. The report came. All these incidents happen during the Parliament session.”
BJP spokesperson said, “The opposition has such relations with foreign countries that they create instability and chaos during every Parliament session of India. They want to create economic chaos in India by creating confusion. Now they are attacking SEBI Why has Congress always stood with foreign companies for the last 30-40 years?