MyVoice: Views of our readers 14th August 2024

Hindenburg report: Only JPC probe can dig out truth

Hindenburg’s latest revelation has made it difficult for the Adani Group and the SEBI to shield themselves from the truth. They are now on a slippery slope. Plausibly, the link between the corporate behemoth and the markets regulator explains why the latter has dragged its feet in its investigation into the former’s alleged involvement in a brazen stock manipulation and accounting fraud scheme and hit a wall. In the light of the latest revelation, the contention that the investigation by the markets regulator was biased and tainted cannot be dismissed out of hand. It is a dictate of justice that an investor or a beneficiary of investments in a company cannot sit in judgment on the same company accused of improper business dealings. There is a conflict of interest between a regulator and an investor. BJP’s argument that the allegation against the Adani Group and the SEBI is a conspiracy by India’s Opposition in cahoots with global powers to create financial instability in India is fallacious. The issue is looked at from a political angle because of the widely known close ties between Gautam Adani and Prime Minister Narendra Modi. Adani has become a byword for India’s infrastructural development. His clout has easily won him lucrative state contracts for ports, airports, highways, coal mines, power plants and so on. The Prime Minister cannot now insulate himself from the findings of Hindenburg based on whistleblower accounts. A JPC probe has now become imperative to dig out the truth. Since the confidence it placed in the SEBI on January 3 has turned out to be misplaced, the Supreme Court may well take suo moto action to right its earlier error in giving a clean chit and establish the facts.

G David Milton, Maruthancode, Tamil Nadu

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That the Hindenburg revelations on SEBI chief, of holding investments in Adani related companies, is a fit case to be probed. Though the intentions of that short selling company in disclosing the news are suspicious, the said matter merits an independent probe to uphold the dignity of that office. The regulator of Indian market who regulates the companies from doing wrongs should not be identified with some companies and their interests. The SEBI chief, Madhabi Buch, who is facing charges now is the first chief appointed from private sector. To prove that she has no personal interests or favouritism while dealing with the affairs of market, she should come clean from such allegations by allowing proper investigation. The Government should not leave such an important matter to go for guess works or conspiracy theories by people in order to keep the public trust intact in regulatory bodies.

Dr DVG Sankara Rao, ex MP Vizianagaram, AP

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The ping pong battle between the rejuvenated opposition and a stubborn BJP, , over the serious allegations raised in Hindenburg report 2, is deplorable. (BJP rejects JPC demand,13 Aug). In this regard, the said report accused Adani group & SEBI chief of financial irregularities, stock manipulations and accounting fraud. This has truly hurt the interest of investors in financial markets. Hence, the NDA 3 and the I.N.D.I.A bloc should set aside politics and arrive at consensus, in the national interest and agree for a JPC probe to ensure transparency and accountability.

P H Hema Sagar, Old Alwal, Secunderabad

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Ongoing heated controversy triggered by latest allegations raised by Hindenburg against SEBI chief and her husband is being exploited politically by Congress led Opposition to tarnish image of third tenure of Modi-led central government. Since Opposition is able to create environment affecting goodwill or credibility of Centre, it appears advisable that Centre must shed obstinacy and thereby it is advisable that Centre must order high-level probe ie through JPC or judicial inquiry which will protect clean image of Centre.

B Veerakumaran Thampi, USA

Kolkata hospital horror: In depth probe essential

As rape and murder of a physician at RG Kar hospital in Kolkata shook the conscience of the nation and it has also led to nationwide stir in government hospitals. Despite the severity of the crime, it is surprising that West Bengal Chief Minister Mamata Banerjee pledged to transfer the case to CBI later in case state police fail to crack the case by Sunday. This only goes to show that there is something amiss in the whole episode. One wonders, why Mamata has asked for time knowing well the state police is completely bias and may mess up the inquiry instead of finding out the truth? The state government is totally responsible for the serious lapse instead of floating a new theory to save its face. All in all, there is no denying the fact that there is an insider’s role which must be inquired in depth to bring the culprit to justice at the earliest.

K R Srinivasan, New Bhoiguda, Secunderabad