In a fierce attack on the Congress, the BJP has linked the latest allegations from US-based short-seller Hindenburg Research to an alleged plot to destabilize India’s economy.
Addressing a press conference in Delhi, senior BJP leader Ravi Shankar Prasad accused the Congress of aligning with foreign interests that, according to the BJP, aim to crash the Indian stock market.
“Today we want to raise some issues. Whose investment is there in Hindenburg? Do you know this gentleman George Soros who regularly runs propaganda against India? He is the main investor there,” claimed the BJP leader.
“In their pathological hatred against Narendra Modi, the Congress Party today has developed hatred against India itself. If India’s stock market gets disturbed, will the small investors be troubled or not?” Prasad asked.
He further accused the Congress of trying to halt the country’s economic growth.
“In the politics of the Congress party, there is one toolkit politics, the other is chit politics. If chits are found in the exam, action is taken. But what should be done about the chits that the Congress party and its leaders get? They want to crash the entire stock market, stop the capital investment of small investors, and ensure that there should be no economic investment in India,” he added.
The BJP’s remarks came in response to Hindenburg Research’s latest report, which has levelled conflict of interest allegations against SEBI chief Madhabi Puri Buch and once again put the Adani Group under the scanner.
This time, the report alleged that the SEBI Chairperson and her husband, Dhaval Buch, owned hidden stakes in offshore funds linked to the Adani Group.
Hindenburg claimed that this may explain SEBI’s inaction against Adani Group for the alleged alleged sheophning of funds.
However, Ms. Buch and her husband have strongly denied the allegations, calling them a deliberate attempt at “character assassination.”
Despite these denials, the controversy has sparked a renewed call from the Congress for a Joint Parliamentary Committee (JPC) probe.
Congress MP and Leader of Opposition in Lok Sabha, Rahul Gandhi, demanded immediate action, questioning why Ms. Buch has not yet resigned.
“The integrity of SEBI, the securities regulator entrusted with safeguarding the wealth of small retail investors, has been gravely compromised by the allegations against its Chairperson,” Gandhi said, adding “It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal.
Calling the Congress party’s JPC probe demand “a sham”, the BJP leader said that the Opposition wants to destabilize India’s financial markets and belittle its investors.
“JPC demand is a sham. Their intention is that JPC probe goes on and the country’s economy gets weaker, share markets tumble and small investors are bothered,” he said.