The political landscape has been shaken by allegations from Hindenburg Research against SEBI Chief Madhabi Buch, sparking a major controversy. The Congress and other opposition parties have demanded her removal and called for a Joint Parliamentary Committee (JPC) investigation into the claims that Buch and her husband, Dhaval, are linked to offshore funds involved in the Adani scandal. The opposition is also urging the Supreme Court to intervene, asserting that SEBI’s credibility is compromised.
In response, SEBI Chief Madhabi Buch and her husband have denied the accusations, labeling them as baseless and aimed at undermining SEBI’s integrity. Buch argues that Hindenburg Research is engaging in character assassination rather than addressing genuine regulatory concerns. The Adani Group has stated it has no commercial connections with the Buchs.
The BJP has dismissed the opposition’s demands as attempts to destabilize the financial sector, accusing them of trying to create chaos. BJP leader Amit Malviya has criticized Congress for allegedly undermining investor confidence and argued that the stock market’s growth contradicts the opposition’s claims. He defended SEBI and highlighted the substantial progress of the Indian financial sector, while criticizing Rahul Gandhi for supposedly promoting narratives that deter investment.
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