Lagatar24 Desk
New Delhi: The Bharatiya Janata Party (BJP) has sharply criticized Congress leader Rahul Gandhi for questioning the integrity of India’s stock markets following recent allegations by US-based short seller Hindenburg. BJP leader Amit Malviya accused Gandhi of deliberately undermining confidence in the nation’s economy, describing his actions as an attempt to “destroy India.”
Malviya, in a post on X (formerly Twitter), condemned Gandhi’s remarks, emphasizing that they come despite the Supreme Court’s expert committee finding no regulatory failure concerning the Hindenburg allegations of price manipulation. “The Leader of Opposition is now openly inciting and seeding doubt about the genuineness of the Indian stock markets,” Malviya stated, underscoring that the Supreme Court, led by Chief Justice DY Chandrachud, observed on January 3, 2024, that there were no deliberate violations by the Securities and Exchange Board of India (SEBI).
Gandhi had recently voiced concerns about the risks in Indian stock markets, alleging that SEBI’s integrity had been “gravely compromised” by the accusations against its chairperson. The Hindenburg report alleged that SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, were linked to offshore entities involved in the alleged Adani money siphoning scandal.
Both SEBI and the Adani Group have vehemently denied these allegations, labeling them as “baseless” and “malicious.” Madhabi Puri Buch also noted that Hindenburg’s latest report surfaced after SEBI had taken enforcement action and issued a show-cause notice to the involved parties in July.
As the political clash escalates, the BJP continues to defend the robustness of India’s financial regulatory framework, while the opposition raises concerns about transparency and accountability.
