Centre trying to protect SEBI chief to save ‘bigger players’, alleges Congress
The party made the statement two days after Madhabi Buch skipped a meeting where she was to be questioned about conflict of interest allegations against her.
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Two days after Securities and Exchange Board of India chairperson Madhabi Puri Buch skipped a meeting of Parliament’s Public Accounts Committee, the Congress on Saturday accused the Centre of trying to protect her to “save the bigger players in this nexus”.
On Thursday, Buch was to be questioned about the conflict of interest allegations levelled against her in August in connection with alleged financial misconduct by the Adani Group. However, she did not attend the meeting, citing personal exigencies.
Pawan Khera, the chief of the Congress’ media and publicity wing, on Saturday questioned why the SEBI chief was “reluctant to answer questions” before Parliament’s Public Accounts Committee.
“Who is behind the plan to protect her from being answerable to the PAC?” Khera asked. “Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend [industrialist Gautam] Adani?”
In August, American investment firm Hindenburg Research alleged that the SEBI chief and her husband Dhaval Buch had “hidden stakes” in offshore entities tied to stock price manipulation and money laundering by the Adani Group.
Madhabi and Dhaval Buch denied the allegations.
This came 18 months after Hindenburg Research accused the Adani Group of engaging in accounting fraud and money laundering using offshore tax havens. The market regulator, led...
