The Bharatiya Janata Party (BJP) has sharply criticised Congress leader Rahul Gandhi for his recent remarks casting doubt on the integrity of Indian stock markets, following allegations made by US-based short-seller Hindenburg Research.
Prominent BJP leader Amit Malviya took to X to accuse Gandhi of deliberately undermining confidence in Bharat’s economy. “The Opposition Leader is now openly inciting and seeding doubt about the genuineness of the Indian stock markets. This blatant attempt to undermine confidence in our economy reveals the true intention of Rahul Gandhi, which is nothing but the destruction of Bharat,” stated Malviya.
Malviya asserted Gandhi’s comments come despite a Supreme Court-appointed expert committee finding no regulatory failures related to the allegations of price manipulation made by Hindenburg. “On January 3, 2024, the Supreme Court, led by Chief Justice of India DY Chandrachud, observed that no wilful or deliberate violations were committed by SEBI,” added Malviya.
Rahul Gandhi had expressed concerns about the potential risks in Indian stock markets and questioned the “integrity” of the Securities and Exchange Board of India or SEBI in light of allegations against its chairperson. The Hindenburg report claimed that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had ties to offshore entities implicated in the alleged Adani money siphoning scandal.
However, both SEBI and the Adani Group have dismissed these allegations as “baseless” and “malicious.” Madhabi Puri Buch also pointed out that the Hindenburg report followed SEBI’s enforcement actions and the issuance of a show-cause notice to the group in July.
