Hindenburg report: Opposition demands JPC probe; bid to create financial chaos, says BJP

Aksheev Thakur

Tribune News Service

New Delhi, August 11

The Congress on Sunday reiterated its demand for a Joint Parliamentary Committee (JPC) probe into the Hindenburg row and said the Centre must act to eliminate all conflicts of interest in the regulator’s investigation into the Adani Group.

Related news: Attack on Sebi’s integrity, bid to malign me: Madhabi Puri Buch junks Hindenburg charge

Congress chief Mallikarjun Kharge said a JPC inquiry is imperative to investigate this massive “scandal”. “Sebi had previously cleared Adani, a close associate of PM Modi, before the SC after the January 2023 revelations. However, new allegations have surfaced regarding a quid-pro-quo involving the Sebi chief,” he said in a post on X.

The BJP dismissed the allegations, accusing the Opposition of being a part of a conspiracy to create financial instability in India. Former Union minister Rajeev Chandrasekhar said Hindenburg had attacked Sebi in an “obvious partnership with the Congress and has an ominous motive and goal to destabilise and discredit India, one of the world’s fastest growing economies”.

LoP Rahul Gandhi said, “The integrity of Sebi, the securities market regulator entrusted with safeguarding the interests of small investors, has been gravely compromised.” He questioned why Buch had not resigned yet. “Honest investors across the country have pressing questions for the government. If they lose their hard-earned money, who will be held accountable — PM Modi, Sebi chairperson or Gautam Adani? Will the Supreme Court look into this matter suo moto once again?” he posted on X.

Congress general secretary Jairam Ramesh said the Sebi account on X was “locked” and inaccessible to the public. “The ‘Modani’ scandal has been brewing for many months,” he said.