The Congress on Saturday intensified its offensive against Sebi chief Madhabi Puri-Buch, asking what was keeping her from appearing before a parliamentary panel.
Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged “risks to billions of retail investors in the stock market”, the party posed three questions on Puri, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency.
“Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji’s dear friend Adani?” the Congress’ media department chairman Pawan Khera asked in a statement.
Rahul earlier posted a video on Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of cautioning retail investors against “the space of risk”, a term he used for the Indian stock markets.
Rahul also told Khera that he was willing to get involved in the party’s communications campaign to help small investors guard their money. “Who is protecting the syndicate committing this fraud?” Rahul captioned the video.
The Congress soon floated a video, titled “Buch Bachao Syndicate”, with Khera alleging that Sebi’s credibility had been undermined under the BJP-led NDA.
“The Congress has consistently voiced its concerns over the erosion of Sebi’s independence and powers. Through a series of media conferences, we have exposed multiple instances of conflicts of interest involving Sebi chairperson Madhabi Puri Buch and her family. These grave revelations have shaken the trust of India’s 11.5 crore registered investors, who count on Sebi to uphold a transparent and fair financial environment. This government has left India’s investors vulnerable, compromising the very institution meant to safeguard their life savings and aspirations,” Khera said.
