The opposition criticizes SEBI chief Madhabi Buch, saying she acted “in typical Adani fashion,” following the latest Hindenburg report.
Opposition leaders, particularly from Congress and Trinamool Congress, were quick to react to the latest Hindenburg allegations. The report accused SEBI chairperson Madhabi Buch and her husband of holding stakes in obscure offshore funds involved in the Adani money siphoning scandal.
The Congress on Saturday used the Latin phrase “Quis Custodiet Ipsos” or “who will guard the guards themselves” to take a swipe at SEBI chief Madhabi Buch.Trinamool Congress leader Mahua Moitra also reacted to the latest revelation by Hindenburg Research allegation on the SEBI Chairman. In a tweet she wrote,In true Adani style – even SEBI Chairman is investor in his group. Crony Capitalism at its finest. @CBiHeadquarters&@Dir_ED – will you be filing POCA and PMLA cases or not?
Hindenburg has alleged that Buch and her husband had stakes in obscure offshore funds used in the Adani money-siphoning case.Tagging the Hindenburg post on the allegations on X, Congress general secretary Jairam Ramesh said, “Quis Custodiet Ipsos Custodes (who will guard the guards themselves).” In another post on the microblogging platform, Ramesh said, “Parliament was notified to sit till the evening of August 12th. Suddenly it got adjourned sine die on the afternoon of Aug 9th itself. Now we know why.”
Shiv Sena (UBT) leader Priyanka Chaturvedi on Saturday said it was now clear why SEBI did not answer her letters seeking details of Adani group companies.
She was responding to allegations by the US short-seller Hindenburg Research, which claimed that SEBI chairperson Madhabi Buch and her husband held stakes in obscure offshore funds involved in the Adani money siphoning scandal.
In a blogpost, Hindenburg said 18 months since its damning report on industrialist Gautam Adani, “SEBI has shown a surprising lack of interest in Adani’s alleged undisclosed web of Mauritius and offshore shell entities.” Citing “whistleblower documents”, it alleged: “Madhabi Buch, the current chairperson of SEBI, and her husband had stakes in both obscure offshore funds used in the Adani money siphoning scandal.”
The SEBI (Securities and Exchange Board of India), which had been investigating the Adani group prior to the release of the Hindenburg report, informed a Supreme Court-appointed panel last year that it was examining 13 opaque offshore entities that collectively held between 14 and 20 percent in five publicly-traded stocks of the conglomerate. It has not yet clarified whether the two ongoing investigations have been concluded.
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