Stepping up his attack on Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch over the recent Hindenburg Research report against her, Congress leader Jairam Ramesh on Saturday demanded her resignation and a Joint Parliamentary Committee (JPC) probe into the matter.

Last week, the US-based short seller alleged that “Buch and her husband Dhaval Buch had stakes in obscure offshore entities used in the Adani money siphoning scandal.” The couple has dismissed the Hindenburg report.

Ramesh, who is the Congress General Secretary in-charge of Communications, in a post on X wrote, “Yet another day and yet more revelations on the multiple conflicts of interest in the SEBI Chairperson’s activities. The SEBI Chairperson’s conflict of interest have already made a mockery of the Supreme Court-mandated SEBI investigations into the violations of securities laws by the Adani Group.”

Referring to the Morning Context report, he said, “The Morning Context has just brought to light other conflicts of interest relating to the SEBI Chairperson. These involve the private equity firm Blackstone where her husband is employed as a senior advisor. There appears to be at least one case involving Blackstone and SEBI from which she had not exempted herself from (or in legal language, recused herself).”

The Congress MP further said, “The Chairperson’s continuance in her role is untenable. She must resign, and a full Joint Parliamentary Committee (JPC) investigation must be conducted into the Adani Mega Scam.”

Earlier on Friday, he said, “The demand for a JPC investigation into the Adani Mega Scam goes far beyond the revelations made by Hindenburg Research’s reports. Irregularities and wrongdoings relating to the Adani Group span every dimension of the political economy, as documented in our 100 question series HAHK (Hum Adani Ke Hain Kaun).”

“Hindenburg is only the tip of the iceberg. Only a JPC can investigate and unravel the true and full extent of this Modani mega-scam,” Ramesh said.

It may be mentioned that the Congress on Tuesday announced to hold a countrywide protest on 22nd August demanding resignation of SEBI Chairperson Buch and a JPC over the matter.