Hyderabad: The Telangana Congress organised a protest rally against Adani and Securities and Exchange Board of India (SEBI) Chief Madhabi Buch over the demand of a Joint Parliamentary Committee inquiry on allegation against SEBI chief.
Protest rally
The protest rally was held by Telangana Pradesh Congress Committee (TPCC) from Gun Park to the ED office in Hyderabad.
PCC Chief and Telangana CM Revanth Reddy, AICC In-Charge for Telangana Deepa Dasmunsi, Deputy Chief Minister Bhatti Vikramarka, Ministers, MPs, MLAs, MLCs, and other leaders participated in the protest.
Hindenburg Reports
Hindenburg's reports have created significant controversy on two occasions. The first was last year when it made allegations about the Adani Group, leading to a substantial drop in Adani's stock prices. More recently, Hindenburg claimed that the SEBI failed to investigate these allegations due to conflicts of interest involving SEBI Chairperson Madhabi Puri Buch and offshore funds related to Adani.
Allegations dismissed by SEBI
Both the Adani Group and SEBI Chairperson Madhabi Puri Buch have dismissed the allegations made by Hindenburg. SEBI has advised investors to remain calm and has highlighted a disclaimer in the Hindenburg report indicating that Hindenburg might hold a short position in the securities mentioned, which could influence the report's content.
Earlier, the All India Bar Association sought a 360-degree probe into the international conspiracy angle behind the Hindenburg report.
AIBA Chairman and Senior Advocate Dr Adish C. Aggarwala, Chairman of the All India Bar Association (AIBA) urged the Indian government to initiate a 360-degree investigation into the alleged international conspiracy behind the latest Hindenburg report.
JPC demanded
Earlier on August 16, Congress RS MP Jairam Ramesh reiterated the party demand for a JPC into the Hindenburg report revelations, "The demand for a Joint Parliamentary Committee (JPC) investigation into the Adani Mega Scam goes far beyond the revelations made by Hindenburg Research's reports. Irregularities and wrongdoings relating to the Adani Group span every dimension of the political economy." (with Agency inputs)
