On Hinderburg report, BJP MP Ravi Shankar Prasad on Monday alleged that the Congress wants the Indian stock market to crash as the ruling party slammed the Opposition over short-seller Hindenburg Research's latest allegations of financial misconduct against the Adani Group. Ravi Shankar Prasad also claimed that the Congress is "involved in creating economic anarchy" and "hatred against India".
He said after being rebuffed by the people of India, the Congress party, its allies and the toolkit gang have conspired together to usher in economic anarchy and instability in India.
The former law minister went on to add that the Hindenburg report was released on Saturday, there is uproar on Sunday so the capital market is destabilized on Monday. he added that India is a safe, stable and promising market in the shares as well.
"It is SEBI's legal responsibility to ensure that the market runs smoothly...When SEBI issued a notice against Hindenburg, after completing its entire inquiry in July, which was done under the supervision of the Supreme Court, then without giving any answer in favour of its defence, they have made this attack, a baseless attack," he said.
He called Rahul Gandhi ‘Soros agent,' and claimed that the Hidenburg report was a Congress-backed conspiracy to stop investments in India.
Talking about the 2024 Lok Sabha election results, Prasad said that after being rebuffed by the people of India, the Congress party conspired together to usher in economic anarchy and instability in India. He also questioned the timing of the report and said said that the findings were released on Saturday to spark outrage on Sunday. he added that all this was created to trigger panic in capital markets on Monday.
Rahul Gandhi on August 11 said said the integrity of SEBI has been "gravely compromised" by the allegations against its chairperson and asked whether the Supreme Court would look into this matter suo motu once again. In a post on X, Gandhi said, "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.
His remarks came after US short-seller Hindenburg Research on Saturday alleged that market regulator SEBI chairperson Madhabi Buch and her husband had stakes in obscure offshore funds used in the alleged Adani money siphoning scandal.
" "Honest investors across the country have pressing questions for the government: Why hasn't SEBI Chairperson Madhabi Puri Buch resigned yet? If investors lose their hard-earned money, who will be held accountable -- PM Modi, the SEBI Chairperson, or Gautam Adani?" the former Congress chief said.
In light of the new and "very serious" allegations that have surfaced, will the Supreme Court look into this matter suo motu once again, Gandhi asked.
Gandhi also posted his video statement on the issue in which he said that it is his duty as the Leader of Opposition to bring to people's notice that there is a "significant risk" in the Indian stock market because the institution that governs the market is "compromised".
