Congress announces nation wide protest on August 22 over Hindenburg's Sebi-Adani nexus charge

The Congress on Tuesday announced a nationwide agitation on August 22 over the Hindenburg report claiming a nexus between the Sebi chairman and the Adani Group. The party is demanding the removal of Madhabi Buch from the post of Sebi chairman following the allegations levelled by the US short-seller.

Congress leader Jairam Ramesh made the announcement today following a meeting of party general secretaries, incharges and state chiefs. The meeting was chaired by Mallikarjun Kharge.

“We had a discussion about one of the biggest scams happening in the country right now- the Hindenburg revelations, the scam related to Adani and Sebi,” Jairam Ramesh said.

He said that the party leadership unanimously decided to agitate nation-wide by demanding a joint parliamentary committee probe into the alleged Adani scam.

“We unanimously decided to have nationwide agitation on this issue demanding two things, one is a JPC inquiry on Adani mega scam in



which the Prime Minister is fully involved and in which the financial market regulation has now been found to have been severely compromised..." Jairam Ramesh said.

The Congress’s demand for a parliamentary probe comes after Hindenburg Research escalated its feud with India’s stock market regulator Sebi and its chief, Madhabi Buch, alleging conflicts of interest and fresh instances of financial impropriety tied to the Adani Group.

Hindenburg Research said that whistleblower documents show Sebi chief Madhabi Puri Buch and her husband had a stake in obscure offshore entities used in the Adani money siphoning scandal. The US short-seller cited whistleblower documents to support its claims.

Sebi, Madhabi Buch and her husband vehemently denied allegations of leniency towards business tycoon Gautam Adani and his group of companies.

In a joint statement, the Buchs described the claims as "baseless allegations and insinuations" devoid of truth.