Rahul Gandhi questions Modi’s fear of JPC probe amid fresh Hindenburg allegations

Congress leader Rahul Gandhi has intensified his criticism of Prime Minister Narendra Modi, following the latest report by Hindenburg Research. Gandhi alleged that the Prime Minister's reluctance to endorse a Joint Parliamentary Committee (JPC) investigation into the Adani Group underscores his fear of the probe's potential findings.

In a video message posted on X, Gandhi condemned the Hindenburg report’s allegations against Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch, accusing her of compromising the regulator’s integrity. The report, released late Saturday, suggests that Buch's potential ties to offshore funds linked to the Adani Group may explain SEBI's apparent inaction against the conglomerate.

"The integrity of SEBI, tasked with protecting the interests of small investors, is severely undermined by these serious allegations," Gandhi asserted. He questioned why Buch had not resigned amidst the growing scrutiny and demanded accountability for potential losses incurred by investors.

Gandhi also linked the report to Modi’s apparent apprehension about a JPC probe, suggesting that the findings might further expose uncomfortable truths. "It is now abundantly clear why Prime Minister Modi is so afraid of a JPC probe and what it might reveal," Gandhi said.

In response, the BJP dismissed the Hindenburg report as part of a conspiracy to destabilize India’s financial sector. BJP spokesperson Sudhanshu Trivedi accused opposition parties of amplifying these allegations to create financial instability. "The short-selling firm, which previously targeted the Adani group, is now under scrutiny from Indian probe agencies. The opposition’s echoing of these claims is a clear attempt to disrupt financial stability," Trivedi stated.