Rahul Gandhi takes on PM Modi on the Hindenburg Row:

Rahul Gandhi who’s the Leader of Opposition of the Lok-Sabha has reacted to the Hindenburg Row and said on Sunday while attacking the PM that it’s clear why he was afraid of Joint Parliamentary probe.

SEBI’s reliability compromised:

The Leader of Opposition while reacting to the Hindenburg row said that the integrity of the SEBI (Securities and Exchange Board of India) has been severely compromised and also said that whether the Supreme Court would take note of this issue yet again.

Rahul Gandhi reacts to Hindenburg Row:

The statement of Rahul Gandhi comes after the recent Hindenburg, which is a US-short seller, had made serious allegations against the chairperson of SEBI, Mrs. Madhabi Buch and her spouse, that they had stakes in the offshore funds in the Adani money scandal.

Rahul Gandhi released a video statement and also raised questions on X (earlier known as Twitter) through a social media post. He said that the accusations against the controller of SEBI have hampered the value of the organization which was for protecting the wealth of small retail investors.

He also said that there are ‘pressing’ questions to the Central government by the honest investors. He asked why hasn’t the chairperson of SEBI resigned from her post. He also questioned who would be held accountable if the investors lose the hard-earned money. He asked whether PM Modi, the Chairperson of SEBI or Adani will be accountable for the same.

Even as the new allegations emerged, he termed it as serious and asked whether SC will take up the issue. He also targeted PM Modi and said that it’s now clear why he was scared of the JPC as it might reveal something.

He said that it is his duty as Leader of Opposition to bring the issue to the forefront to people because there is a serious risk in the Indian stock market as the institution that governs it is compromised.

An analogy to the Cricket match:

He drew an analogy to the cricket match between India and Australia where the people know who is the winner of the match and those who are the players also know that the integrity of the umpire is compromised. He asked about the fairness of the match and about the outcomes. He asked how people would feel as participants watching the match. He said that is what is happening in the stock market.

A demand for investigation:

Rahul Gandhi said that he would explain how and why the institution was compromised. He talked about the serious allegations against the Adani group about the illegal ownership share and price manipulation using the offshore funds. He said it is ‘disclosed’ how the chairperson of SEBI and her husband had interest in the funds. He said that it reveals that the umpire was compromised. He said that the savings of millions of Indians which are hard-earned which have been earned honestly are at the risk. So it should be investigated.

SEBI Chairperson denies allegations:

The head of SEBI (Securities and Exchange of India) and her spouse have refuted the allegations. SEBI also said that allegations against Adani have been duly investigated. The chairperson also disclosed and recused herself while dealing with matters.

Not the first time:

In March 2023, the Congress Party demanded JPC (Joint Parliamentary Committee) in an investment of Rs. 20,000 crores into Adani Group. They also alleged that the Modi government was showing special favor to Adani.