• By Kamal Kumar
  • Sun, 11 Aug 2024 07:08 PM (IST)
  • Source:JND

Hindenburg SEBI Report:  As the Hindenburg-Adani-SEBI row intensifies, Congress on Sunday launched a fresh attack on the Modi government, terming the allegations 'a massive blot on the market regulator' and urging the Supreme Court to take suo-moto cognisance of the matter. The opposition party further asked for a joint parliamentary committee probe into the allegations, claiming that only this inquiry can reveal the facts of the matter.

Addressing a press conference at the Congress headquarters in New Delhi, Congress IT cell in-charge Supriya Shrinate asked how can we make our domestic and foreign investors believe that there is a rule of law in India when our market regulators are accused of something like this.

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"This report is a blot on our market regulator... How can we make our domestic and foreign investors believe in the rule of law in India when our market regulators are accused of something like this?... We urge the Supreme Court to take cognisance of the matter and investigate it because it raises questions about the financial framework of the country. This scam can be investigated only through a JPC..."

Hindenburg Research, a US-based equity research firm and short seller, on Saturday released a report on alleged foreign investment malpractices by current Securities and Exchange Board (SEBI) chairperson Madhabi Puri Buch, claiming clear 'conflict of interest' by the regulator's chief. In a detailed report, the firm had claimed that Buch had stakes in Adani Group's shell companies in tax havens - Mauritius and Bermuda.

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While the SEBI chairperson and Adani group, both refuted the claims made in the report, the opposition has been in attacking mode over the serious allegations of the country's market regulator and largest conglomerate.

The Adani Group, in a statement released on Sunday, dismissed these accusations, labelling them as "malicious, mischievous, and manipulative."