Hindenburg report: Congress threatens nationwide stir if JPC demand not met

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Hindenburg report: Congress threatens nationwide stir if JPC demand not met - Business Standard

Quick Summary:

Hindenburg Research, an investment research firm that uses activist short-selling to expose corporate fraud and malfeasance, alleged on Saturday that SEBI chairperson Madhabi Puri Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani -- the elder brother of group chairman Gautam Adani -- to round-trip funds and inflate stock prices.

Stepping up its attack on the Narendra Modi government over Hindenburg Research's allegations against SEBI chairperson Madhabi Puri Buch, the Congress on Monday threatened to launch a nationwide protest if its demand for a Joint Parliamentary Committee (JPC) probe into the matter is not accepted.

AICC General Secretary (Organisation) K C Venugopal described the allegations as "very serious" and accused the prime minister of supporting the Adani Group and its chairman Gautam Adani on the matter.