Interests of small investors are in danger due to allegations against SEBI Chairperson: Kumari Selija

April 22, 2024 10:51 am

Published by: PreetiMahajan

The Fact News Service

Chandigarh, August 13

MP Sirsa Kumari Selja said the interests of small investors are in danger due to allegations against the SEBI Chairperson.

“At that time, SEBI had given a clean chit to Adani before the Supreme Court, but now the financial relations between the SEBI head and Adani have also been revealed. The significant issue here is that small and medium investors invest their hard-earned money in the stock market, trusting SEBI. But if SEBI itself is under question, how can their trust remain intact? Therefore, Congress demands that this mega scam be investigated by a JPC (Joint Parliamentary Committee) so that the scam can be fully exposed,” said Kumari Selja.

In a statement released to the media, Kumari Selja said that on August 10, Hindenburg issued a 46-page report regarding SEBI Chairperson Madhabi Puri Buch, her husband Dhaval Buch, and their connection to the Adani Group. The report claims that SEBI Chairperson Buch and her husband Dhaval Buch made undeclared investments in opaque foreign funds in Bermuda and Mauritius. The firm stated that these were the same funds allegedly used by Vinod Adani to siphon money and inflate the share prices of group companies. Vinod Adani is the elder brother of Gautam Adani, the Chairman of the Adani Group. The report claims that the Buch couple invested in the same offshore company in Mauritius, through which investments were made in Adani Group companies in India, benefiting Adani. The firm stated that this is considered an unethical business practice.

She added that the report also states that SEBI was tasked with investigating the funds related to the Adani case, in which Buch had also invested. This entire information has been exposed in our report. The interests of the SEBI chief and the Adani Group were intertwined. This is a major conflict of interest.

She said that the government is working in favor of a few industrialists. She demanded that a JPC be constituted to thoroughly investigate the Hindenburg case.She also said that the interests of small investors are in serious danger due to the allegations against the SEBI Chairperson. Why hasn’t the SEBI Chief been removed yet? She questioned who would be responsible if the investors suffered losses—PM Modi, the SEBI Chairperson, or Gautam Adani?