Lok Sabha Leader of Opposition and Congress MP Rahul Gandhi on Sunday in a video has expressed grave concerns about the Indian stock market's integrity. He highlighted serious allegations regarding the regulatory institutions overseeing the market.
Gandhi pointed to allegations against the Adani Group involving illegal share ownership and price manipulation through offshore funds. He noted that it has recently come to light that SEBI Chairperson Madhabi Buch and her husband had interests in one of these funds. "This is an explosive allegation," Gandhi stated, "because it suggests that the umpire herself is compromised."
Gandhi questioned the government's response, asking why SEBI Chairperson Madhabi Buch has not resigned. He raised concerns about accountability, questioning whether Prime Minister Narendra Modi, SEBI Chairperson Buch, or Gautam Adani would be held responsible if investors lose their money.
The Congress leader also called for the Supreme Court to review the matter suo moto, emphasizing the need for transparency and accountability. He suggested that Prime Minister Modi's opposition to a Joint Parliamentary Committee (JPC) investigation might be connected to these new allegations.
The remarks have intensified the debate over stock market regulation and oversight in India, highlighting growing demands for accountability from both regulatory bodies and political leaders.
