Congress demands SEBI chief’s resignation

Visakhapatnam : Alleging that Securities and Exchange Board of India (SEBI) chair Madhabi Puri Buch had violated the market regulator’s policy, AICC administration in-charge and Congress Working Committee permanent invitee Gurdeep Singh Sappal demanded that a joint parliamentary committee should be formed to probe into the violation.

Addressing the media here on Wednesday, he stated that the Congress has no faith in the BJP government as the Central government will not investigate into it in order to save the group.

The role of SEBI is to protect the interest of 10 crore investors, said Gurdeep Singh Sappal. He announced that the Congress leaders will be staging a protest on August 22 demanding resignation of Buch. “If Madhabi Puri Buch was accused, why was the Supreme Court not informed about it by the SEBI? Interestingly, she herself presented the SEBI investigation report to the Supreme Court. She should not continue as the chairperson of the SEBI. Any officer in SEBI cannot draw profit from any other organisation,” he pointed out.

It may be recalled that Hidenburg accused Buch and her husband of having stakes in offshore funds allegedly used in investments in the Adani companies.

Speaking on the occasion, former Union minister Killi Kruparani demanded that a joint parliamentary committee should be set up to investigate the matter as there is no faith in the NDA government.

She informed that the Congress party would hold a dharna in front of the Enforcement Directorate offices across the country with the ranks of the party on Thursday.

After Harshad Mehta’s scam, the then Congress government strengthened the SEBI. But the BJP government is destroying it for their self-motive and corporate players, the said.

Congress leaders Nuthan Naidu, AP state Youth Congress president Rama Rao, Visakhapatnam district leaders Siva Kumar, Gangadhar and Santhosh were present.