Independent panel must probe Hindenburg’s allegations against SEBI chief, says civil society group
The group claimed that SEBI had ‘deliberately or otherwise disabled itself from conducting a thorough investigation’ of the US-based short-seller’s claims.
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -
A civil society group on Friday called for the appointment of a judicial commission to investigate United States-based short-seller Hindenburg Research’s recent allegations against the Securities and Exchange Board of India.
The group demanded that President Droupadi Murmu use her powers under the Constitution to make a reference to the Supreme Court on the matter, and to “and appoint a commission headed by a member of the higher judiciary under the Commissions of Enquiry Act”.
The demand was made by the People’s Commission on Public Sector and Public Services, a group of academicians, jurists, former administrators, trade unionists and social activists.
“The latest accusations made by Hindenburg Research against a possible conflict of interest on the part of the present Chairman of SEBI once again raise similar concerns about capital market regulation in India,” the group said in a statement, referring to SEBI Chairperson Madhabi Buch.
The American short-seller has alleged that Buch and her husband Dhaval Buch had “hidden stakes” in offshore entities tied to stock price manipulation and money laundering by the Adani Group.
The group said that despite the seriousness of the allegations, the Union government had not cared “to order an investigation to dispel any doubt about the role” of Buch.
The academicians and activists said that while looking...
