The Bharatiya Janata Party (BJP) on Monday took a dig at Congress MP Rahul Gandhi over his “umpire is compromised” remark after the new Hindenburg Research report. BJP national spokesperson CR Kesavan invoked former cricketer Greg Chappell’s performance reference, saying that the “hit-and-run” Hindenburg and “crooked” Congress-INDIA alliance are indulged in a “shady and deceitful underarm bowling” to discredit the stock market and India’s market regulator, Securities and Exchange Board of India (SEBI).
The BJP leader added that the alliance is trying to “destabilise” the financial system.
“Rahul Gandhi made a cricketing analogy…Their desperate attempts will miserably fail because India under the leadership of PM Modi… our economy is not only stable, it is the fastest growing economy in the world,” he told PTI.
Rahul Gandhi on Sunday issued a stark warning regarding the integrity of India’s stock market following the latest allegations made by US-based short-seller Hindenburg Research and expressed serious concerns about the potential conflict of interest involving the head of SEBI – Madhabi Puri Buch.
“This is an explosive allegation because it alleges that the umpire herself is compromised…Why hasn’t SEBI chairperson Madhabi Puri Buch resigned yet?” Gandhi said in a video message.
He further questioned that if the investors lose their money, then who will be held accountable. “PM Modi, the SEBI Chairperson, or Gautam Adani?” he asked, calling for immediate action.
Meanwhile, earlier on Sunday, BJP IT cell head Amit Malviya called Gandhi “Balak Buddhi” (child’s intellect), claiming that the Congress leader has gone “rogue”.
“The Leader of Opposition 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 the true intention of Rahul Gandhi, which is nothing but the destruction of India,” he wrote in a post on X.
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He further posed three questions for Gandhi:
What is your connection with Anla Cheng-Mark Kingdon enterprise or for that matter the OCCRP and other George Soros backed entities?
What is your relationship with Hindenburg? Congress leaders start posting minutes after the Hindenburg reports come out. Are these reports made in collaboration with the Congress?
Why has your hatred for Prime Minister Modi morphed into disdain for India’s growth story?
“Rahul Gandhi’s actions reveal his true intentions—not just a political rivalry with the BJP, but a deliberate effort to undermine India’s economic progress. The Indian people deserve better Opposition,” the BJP leader added.
What does the new Hindenburg report say?
On Saturday, US-based short seller Hindenburg Research accused Madhabi Buch, chairperson of SEBI, and her husband Dhaval Buch of holding stakes in offshore entities connected to the alleged financial misconduct of the Adani Group. The report, based on “whistleblower documents,” suggested that these entities were part of a network utilized by Vinod Adani, Gautam Adani’s elder brother, to “siphon money.”
The report also noted that just weeks before Buch’s appointment to SEBI, her husband sought to transfer their investments into his sole control, possibly to evade scrutiny linked to her new regulatory position.
“In the letter, Dhaval Buch requested to “be the sole person authorised to operate the Accounts”, seemingly moving the assets out of his wife’s name ahead of the politically sensitive appointment,” it alleged, adding that the couple’s investments were reportedly funnelled through a complex, multi-layered offshore structure, raising questions about their legitimacy and purpose.
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