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Modi Opponents Call for India's Sebi Chief to Resign
Posted
August 12, 2024
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4,100
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August 12, 2024
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0:59Now PlayingIndia’s political opposition is calling on the head of the nation’s stock-market regulator to resign after Hindenburg Research alleged impropriety in its investigation against the Adani Group.
In a report published Saturday, the US short seller accused the Securities and Exchange Board of India chairperson Madhabi Puri Buch and her husband Dhaval Buch of investing in offshore entities which were allegedly part of a fund structure related to Adani. The investments were made in 2015, two years before Buch joined Sebi as a full-time member, the report said. Buch denied any wrongdoing.
“Her guilt is there for everyone to see,” Mahua Moitra, a lawmaker in India’s parliament from the All India Trinamool Congress party, told Bloomberg TV. “India’s reputation as a global market investment is at stake. We cannot be seen to be non-transparent, we cannot be seen to be opaque, we cannot be seen to be slow, we have to take quick action and clean up the system.”
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