The BJP is smelling a ‘Congress plot’, while government officials suspect a conspiracy to impact the Indian stock market after the Hindenburg report made allegations against SEBI chief Madhabi Puri Buch and her husband.
BJP leaders are pointing to the alacrity shown by Congress leaders to ask for a Joint Parliamentary Probe into the issue in less than two hours of the release of the report. The Congress has also demanded the resignation of the SEBI chief, who still has six months to go in her present tenure and is eligible for another term as per the rules. An official said the fast-paced developments on Sunday clearly seem to be a ‘concerted plot’ to disturb the stock markets as they open on Monday and the ‘short-seller’ Hindenburg already had suspect intentions.
Indian stock markets have had a dream run lately. Apparently, cognisant over the ‘intentions’ of the Hindenburg report released on Sunday, SEBI put out a statement in the evening, saying “investors should remain calm and exercise due diligence before reacting to such reports… investors may also take note of the disclaimer in the report that states that readers should assume that Hindenburg Research may have short positions in the securities covered in the report”.
A BJP leader told News18 that he won’t be surprised if the Congress also approaches the Supreme Court to re-open the matter, claiming that SEBI stands discredited. “The SEBI chief has put out all facts in public domain that expose the report to be full of malicious lies. Each point has been rebutted. But the hand-in-glove connections are clear — Hindenburg will put out cooked-up sensational facts and the Congress will provide the fuel in courts and the political discourse,” the BJP leader said.
Political War
Leader of Opposition (LoP) Rahul Gandhi has questioned the integrity of SEBI and asked for Buch’s resignation. “In light of the new and very serious allegations that have surfaced, will the Supreme Court look into this matter suo moto once again?” Gandhi asked. The Congress party, in an official statement, said only a JPC will be able to get to the bottom of the matter and demanded the same.
The BJP, however, is targeting the Grand Old Party for promoting Hindenburg’s agenda. “The LoP 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 true intention of Gandhi, which is nothing but destruction of India,” BJP spokesperson Amit Malviya said. He termed the Hindenburg report a “damp squib”.
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