Adani-Hindenburg case: Congress announces nation wide protest on August 22, to gherao ED offices; demands JPC probe

Adani-Hindenburg case: Congress, on Tuesday, announced they would hold nationwide protest on Thursday, August 22, demanding Joint Parliamentary Committee (JPC) probe into Hindenburg allegations against Adani Group of Companies.

“We will have nation-wide protest on August 22. In all states we will gherao ED offices across the country,” Congress leader KC Venugopal told reporters on Tuesday.

Congress stepped up its demand for a JPC probe after Hindenburg Research on August 10 alleged that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in obscure offshore funds used in the alleged “Adani money siphoning scandal”. The SEBI Chairperson has vehemently denied the allegations,mterming them as an attempted “character assassination” and an attack on SEBI's credibility.

The announcement was made after Congress president Mallikarjun Kharge held a meeting with all general secretaries, state unit chiefs and AICC state in-charges here as the party gets battle-ready for the upcoming round of assembly polls to discuss organisational matters and various issues of national importance for election preparedness.

"The shocking revelations of a nexus between the SEBI and Adani needs a thorough investigation. The money of small investors in the stock market cannot be jeopardised," Mallikarjun Kharge said in a post on X (formerly Twitter) after the meeting.

“The Modi government must immediately seek the resignation of the SEBI chairperson and constitute a JPC in this regard”, he said.

Briefing reporters on the meeting, Venugopal said it was unanimously decided at the meeting that the party will hold a nationwide agitation on August 22, demanding SEBI chief Madhabi Puri Buch's resignation and a JPC probe into Hindenburg's allegations against Adani Group.

On Monday SEBI said the allegations against the Adani Group by Hindenburg had been "duly investigated" and its chairperson disclosed and from time to time "also recused herself in matters involving potential conflicts of interest".

After Hindenburg Research's latest salvo, the Adani Group termed the allegations malicious and based on manipulation of select public information. The company said it had no commercial relationship with the SEBI chairperson or her husband.