TMC MPs meet SEBI officials, seek probe into stock market 'manipulation'
Mumbai (PTI): A delegation of Trinamool Congress MPs met officials of the Securities and Exchange Board of India (SEBI) here on Tuesday and demanded a probe into the alleged stock market manipulation following exit polls earlier this month.
The delegation, comprising TMC MPs Kalyan Banerjee, Sagarika Ghose and Saket Gokhale, was joined by Shiv Sena (UBT) MP Arvind Sawant and former NCP (SP) MLC Vidya Chavan.
Notably, Congress MP Rahul Gandhi had alleged that Prime Minister Narendra Modi and Union Home Minister Amit Shah were "directly involved" in what he described as the "biggest stock market scam" with retail investors losing Rs 30 lakh crore due to the market crashing after the Lok Sabha poll result earlier this month.
The BJP has dismissed his charges as "baseless".
West Bengal Chief Minister and Trinamool Congress (TMC) head Mamata Banerjee has demanded an investigation into how stock markets were "manipulated by using fake exit polls".
After the meeting, Kalyan Banerjee told reporters, “SEBI had a glorious role in the past. We have confidence in SEBI which is why we are seeking an investigation into the manipulation of the stock market by the reason of misleading exit polls for the Lok Sabha elections 2024."
He said the delegation also demanded a probe into whether exit poll agencies have any connection with political leaders.
On June 3, the share market rose, but it crashed a day later. In 24 hours, small investors lost Rs 30 lakh crore, the MP claimed, adding that families of politicians have earned crores due to this.
“Amit Shah repeatedly said in various election campaigns to purchase early (before the polls) and you (investors) will get the benefit. We need an investigation to instil confidence (among investors),” the MP said.
Earlier in the day, the TMC delegation met NCP (SP) president Sharad Pawar who supported their demand for an investigation into the alleged stock market manipulation following the exit polls.
The stock market rose on June 3 following the June 1 exit polls, which predicted a landslide victory for the NDA-led BJP in the Lok Sabha polls.
The BJP did not secure a majority on its own and formed government with the NDA partners.
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Stalin urges Centre to rollback commercial LPG price hike
Chennai (PTI): Tamil Nadu Chief Minister M K Stalin on Friday demanded that the Centre immediately rollback the hike in commercial LPG cylinder prices. The price of commercial LPG was hiked by the steepest ever Rs 993 per 19-kg cylinder on May 1, marking the third straight monthly increase due to rising global energy prices linked to the West Asia conflict.
In his social media X platform, the DMK chief alleged that as predicted before the polls, the BJP-led union government has raised LPG prices immediately after the elections concluded.
"When global crude oil prices fell, the benefits were not passed on to the people, " he said, accusing the Centre of "using the West Asia war crisis as an excuse to raise the prices without regard for public welfare".
Calling for protection of the livelihood of the people, Stalin demanded an immediate rollback of the LPG price hike.
He asked the Centre to consider the people's suffering and find solutions.
