The Congress has called on the government to address potential conflicts of interest in the Securities and Exchange Board of India’s (SEBI) investigation into the Adani Group. 

This follows a new Hindenburg Research report alleging that SEBI chief Madhabi Buch and her husband held undisclosed stakes in offshore entities linked to the Adani Group’s alleged financial misconduct.

Congress general secretary Jairam Ramesh criticised SEBI’s ‘reluctance’ to investigate the ‘Adani MegaScam’ and raised concerns over Buch’s financial ties. 

Ramesh also questioned Gautam Adani’s meetings with Buch shortly after her appointment as SEBI chairperson in 2022. He urged the government to act swiftly to eliminate conflicts of interest and called for a Joint Parliamentary Committee to investigate the full scope of the alleged scam.

Congress MP Manish Tewari emphasised that the serious nature of the allegations necessitates a detailed investigation. He proposed the formation of a JPC to explore the issues in depth and ensure a comprehensive review. 

Shashi Tharoor, another Congress MP, underscored the importance of addressing such serious allegations. While he admitted to being unfamiliar with the details of the report, Tharoor stressed that any accusations impacting the integrity of the system must be thoroughly investigated. He said that an investigation is essential to provide satisfactory answers and maintain public trust.

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