Following SEBI Chairperson Madhabi Buch's response to the Hindenburg report, the US short seller made fresh allegations of a "Conflict of Interest," stating that SEBI Chief's response raises numerous new critical questions.
Aam Aadmi Party (AAP) Rajya Sabha MP Sanjay Singh on Sunday criticized SEBI's investigation into the Adani Group, calling it "baseless and irrelevant," and urged the Supreme Court to take action.
The Congress leader also asked, "If investors lose their hard-earned money, who will be held accountable--PM Modi, the SEBI Chairperson, or Gautam Adani?"
The Securities and Exchange Board of India (SEBI) has urged investors to remain calm and conduct thorough research before reacting to the Hindenburg Research report.
The allegations of the US Short seller Hindenburg against SEBI Chairperson Madhabi Buch and her husband have drawn sharp political reactions from the opposition parties with the opposition demanding a Joint Parliamentary Committee (JPC) on the issue.
On the Hindenburg report with allegations on SEBI Chief and her husband, BJP leader and former Union Minister Rajeev Chandrasekhar on Sunday trashed the Hindenburg report and said that nothing in the report is credible.
Chandrashekhar further alleged that Congress is seeking foreign help to destabilize India's financial system and to create chaos in the country by attacking the independent regulator SEBI.
Reacting to the Hindenburg report, Samajwadi Party spokesperson Ghanshyam Tiwari on Sunday lashed out at the Modi government and said that the tenure of PM Modi will be known for 'Adani-waad'.
On late Saturday night, US-based short seller Hindenburg Research alleged that SEBI Chairperson Madhabi Buch and her husband had stakes in "both the obscure offshore entities used in the Adani money siphoning scandal," a claim subsequently denied by Buch and her husband, who accused Hinde
Senior lawyer and BJP leader Mahesh Jethmalani has called on the government to probe the links of political voices, who sought to target the Adani group after the Hindenburg report, with China.
Adani Group, whose market capitalisation was badly hit by a US-based short seller report in early 2023, has recovered from the losses and the Indian conglomerate is back on an "expansion spree".