The Bharatiya Janata Party (BJP) today launched a scathing attack on Congress leader Rahul Gandhi, accusing him of undermining confidence in the Indian stock markets. The criticism comes in response to Gandhi’s recent remarks, which questioned the integrity of the markets following allegations made by the U.S.-based short seller Hindenburg.
BJP leader Amit Malviya took to X (formerly Twitter) to express his discontent, stating, “The Leader of Opposition is now openly inciting and seeding doubt about the genuineness of the Indian stock markets. This blatant attempt to undermine confidence in our economy reveals the true intention of Rahul Gandhi, which is nothing but the destruction of India.”
Gandhi’s comments stem from the Hindenburg report that raised concerns about potential market manipulation involving the Adani Group and implicated Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch. Despite these allegations, Malviya emphasized that an expert committee appointed by the Supreme Court had found no regulatory failure in the matter.
“On January 3, 2024, the Supreme Court, led by Chief Justice DY Chandrachud, observed that no willful or deliberate violations were done by SEBI,” Malviya added.
Rahul Gandhi has voiced concerns over what he perceives as significant risks in the Indian stock markets, asserting that the “integrity” of SEBI has been “gravely compromised” by the allegations against its chairperson. The Hindenburg report alleges that SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, have stakes in offshore entities involved in the alleged Adani money siphoning scandal.
However, both SEBI and the Adani Group have vehemently denied these claims, labeling them as “baseless” and “malicious.” Madhabi Puri Buch pointed out that the latest Hindenburg report was released after SEBI had already taken enforcement action and issued a show-cause notice to Hindenburg in July.
The exchange between the BJP and Rahul Gandhi highlights the ongoing political and financial tensions surrounding the allegations, with both sides standing firm on their positions.
For more updates on this developing story, stay tuned.
