Mayawati Criticizes Centre Over Hindenburg Allegations Against SEBI Chairperson
In Lucknow on Tuesday, Bahujan Samaj Party (BSP) chief Mayawati criticized the Central Government’s handling of the recent allegations made by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch. The controversy, which has escalated beyond political debate, is now impacting the credibility of the Central Government, according to Mayawati.
On August 10, Hindenburg Research alleged that Madhabi Puri Buch and her husband Dhaval Buch had investments in obscure offshore funds linked to the alleged Adani money siphoning scandal. This claim has intensified political discourse, with opposition parties demanding a high-level inquiry, such as a Joint Parliamentary Committee (JPC) probe, and some calling for the removal of Buch. In response, the ruling BJP has accused the opposition of attempting to destabilize India’s financial markets through these allegations.
Mayawati emphasized that the ongoing allegations and counter-allegations are affecting national interests. In her post on X, she stated, “First the Adani Group and now the SEBI chief-related Hindenburg report are again in the news, and the allegations and counter-allegations are continuing to such an extent that it is being said to affect the national interest. Despite the clarifications provided by Adani and SEBI, the issue remains on the boil.” She further noted, “It would have been better if the Centre had ordered a high-level inquiry, such as a JPC or judicial inquiry, by now.”
The SEBI chairperson and her husband have denied the allegations, characterizing them as baseless. They accuse Hindenburg Research of attempting to undermine SEBI’s credibility and engage in character assassination. SEBI has defended itself by stating that it has thoroughly investigated allegations against the Adani Group and that Buch has appropriately disclosed and recused herself from matters with potential conflicts of interest. The Adani Group has described the allegations as malicious and based on manipulated public information, asserting that there is no commercial relationship between the company and the SEBI chairperson or her husband.
The controversy continues to unfold, with calls for judicial intervention and a more thorough investigation persisting amidst political and public scrutiny.
