Congress Accuses SEBI Chief of Favoritism Towards Adani Group

The Congress party accuses SEBI Chairperson Madhabi Puri Buch of favoring the Adani Group, alleging a dangerous nexus involving key regulatory bodies and the BJP. The party demands a Joint Parliamentary Committee probe into the matter, raising concerns about regulatory transparency and the protection of small and medium investors.

The Congress party has launched fresh allegations against SEBI Chairperson Madhabi Puri Buch, accusing her of fostering a monopoly favoring the Adani Group. Rahul Gandhi has called for a comprehensive Joint Parliamentary Committee probe into what he describes as a 'Monopoly Bachao Syndicate' involving the Adani Group, regulatory bodies, and the ruling Bharatiya Janata Party.

At a press conference, Congress President Mallikarjun Kharge criticized Prime Minister Narendra Modi for allegedly compromising the SEBI's integrity by appointing Buch, whose actions, he claims, endanger the savings of countless small and medium investors. The allegations include that Buch rented property to firms under SEBI scrutiny and maintained links with the IndiaBulls Group and offshore entities revealed in the Paradise Papers.

No immediate response has been provided by either Buch or the Adani Group concerning these accusations. However, both have previously rejected any wrongdoing. The situation intensifies as Congress demands answers, using the case to emphasize issues of regulatory capture and institutional integrity.

(With inputs from agencies.)