Institutional collapse given way to dangerous form of cronyism: Rahul's fresh attack on SEBI chief
New Delhi, Oct 28: Stepping up his attack over conflicts of interest allegations against SEBI chief Madhabi Buch, Congress leader Rahul Gandhi on Monday alleged it is clear that Buch is "protecting Adani's money, his valuation and reputation", and asked who is protecting her and why.
Gandhi, the Leader of Opposition in the Lok Sabha, also said the current regime is no longer merely encouraging monopolies but actively concentrating the nation's wealth in the hands of a few.
He made the remarks in his post along with a video featuring him and Congress' media and publicity department head Pawan Khera in which they talk about the alleged conflicts of interest of SEBI chief Buch.
"Institutional collapse has now given way to a more dangerous form of cronyism -- Adani Bachao. The current regime is no longer merely encouraging monopolies, it's actively concentrating the nation's wealth in the hands of a few," Gandhi said.
The Madhabi Buch scandal goes deeper than initially imagined, he said, adding that it may be that Buch, entrusted with safeguarding retail investors, has been manipulating the system to "protect" Adani's interests and his inflated valuations.
Those entrusted with protecting common Indians and their investments have abrogated their responsibilities and are indulging in wide scale corruption and malpractice, he alleged.
The Congress has consistently raised these issues, is investigating these scams, and exposing the truth to the public, Gandhi said.
In the video, Khera is seen explaining to Gandhi the various conflicts of interest allegations against Buch and how there were powers behind her that were at work, an apparent reference to the Adani Group.
Sharing the video, the party said the role of SEBI chairperson is to maintain the security of the stock market and ensure investments of common Indians are not at risk. However, when the chairperson is involved in manipulating the market to benefit a single player - like the Adani Group - then everyone's money is at risk, it said.
"That is what is happening with the Madhabi Buch Scandal. She has been placed in this position by PM Modi and HM Amit Shah to give Adani a clean chit in allegations of stock manipulation," it said.
In a post in Hindi on X, Gandhi said, "What was SEBI Chairperson Madhabi Buch taking money from ICICI for?" How could she hold shares in unlisted companies while being the SEBI Chairperson and why did that company receive crores of rupees from Startup India, he asked.
"What is the fear of the government not taking action on this? It is clear that Buch is protecting Adani's money, his valuation and reputation, but who is protecting Buch and why?" Gandhi said.
"The agencies did not investigate, the media did not question, the government did not take action - we have investigated, are also questioning and action will also be taken when the time comes!" the former Congress chief said.
SEBI अध्यक्ष माधबी बुच ICICI से किस बात के पैसे ले रही थीं?
— Rahul Gandhi (@RahulGandhi) October 28, 2024
अध्यक्ष रहते हुए unlisted companies में share कैसे रख सकती थीं? उस company को Startup India के करोड़ों रुपए क्यों मिले?
सरकार किस डर से इस पर कार्रवाई नहीं कर रही?
साफ है बुच अडानी के पैसे, उनकी valuation और… https://t.co/BcsWUnzK4h
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Sujit Nair raises concerns over speculation of DMK-AIADMK understanding to block TVK
Chennai: Journalist and political commentator Sujit Nair has expressed concern over speculation that the Dravida Munnetra Kazhagam and the All India Anna Dravida Munnetra Kazhagam could explore a post-poll understanding to prevent Vijay-led Tamilaga Vettri Kazhagam from forming the government in Tamil Nadu.
In a social media post, Sujit Nair said the election verdict in Tamil Nadu reflected a clear public demand for political change and argued that the mandate should be respected irrespective of political preferences.
Referring to reports and political discussions surrounding a possible understanding between the DMK and AIADMK, he said he hoped such developments remained only speculative conversations and did not turn into reality.
Nair stated that if such an alliance were to take shape, it would raise serious questions about ideological politics in the country. He said TVK had emerged through a democratic electoral process and that the legitimacy to govern in a parliamentary democracy comes from the people’s verdict.
According to him, attempts to prevent an electoral winner from forming the government through unexpected political arrangements may be constitutionally valid, but many people could view them as politically opportunistic.
He further said that such a move could particularly affect the political image of the DMK, which has historically projected itself around ideology, social justice and opposition politics. Nair said that in ideological terms, the DMK appeared closer to TVK than to the AIADMK, and joining hands with its long-time political rival only to remain in power could weaken its broader political narrative.
He added that the same questions would apply to the AIADMK as well, as the party had spent decades positioning itself against the DMK and such an arrangement could create discomfort among its cadre and supporters.
Drawing a comparison with Maharashtra politics in 2019, Nair said he had expressed similar views when the Shiv Sena formed an alliance with the Indian National Congress and the Nationalist Congress Party after the Assembly elections.
He said post-poll alliances between long-standing political rivals often create a public perception that ideology and electoral mandates become secondary when political power equations come into play.
Nair also said such developments increase public cynicism towards politics and reinforce the belief among voters that ideology is often sidelined after elections.
He maintained that the Tamil Nadu verdict was emphatic and said respecting both the spirit and substance of the mandate was important for the credibility of democratic politics.
