Who is saving SEBI chief, asks Congress; Rahul flags stock market risks to small investors
New Delhi (PTI): The Congress on Saturday intensified its offensive against SEBI chief Madhabi Puri Buch, asking what was keeping her from appearing before a parliamentary panel.
Shortly after Congress leader Rahul Gandhi, in an Instagram video, flagged "risks to billions of retail investors in the stock market", the party posed three questions on Buch, who skipped a recent appearance before the Public Accounts Committee by citing a last-minute emergency.
"Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC? Is there a well-thought-out conspiracy to risk the hard-earned investments of crores of small-medium investors and benefit Modi ji's dear friend Adani?" the Congress' media department chairman Pawan Khera asked in a statement.
Gandhi earlier posted a video on Instagram in which he is heard speaking to Khera on the phone and urging him to devise innovative ways of cautioning retail investors against "the space of risk", a term he used for the Indian stock markets.
He also told Khera that he was willing to get involved in the party's communications campaign to help small investors guard their money.
"Who is protecting the syndicate committing this fraud?" Gandhi captioned the Instagram video.
The Congress soon floated a video, titled "Buch Bachao Syndicate", with Khera alleging that SEBI's credibility had been undermined under the BJP-led National Democratic Alliance.
"The Congress has consistently voiced its concerns over the erosion of SEBI's independence and powers. Through a series of press conferences, we have exposed multiple instances of conflicts of interest involving SEBI Chairperson Ms Madhabi Puri Buch and her family. These grave revelations have shaken the trust of India's 11.5 crore registered investors, who count on SEBI to uphold a transparent and fair financial environment. This government has left India's investors vulnerable, compromising the very institution meant to safeguard their life savings and aspirations," Khera said.
He said, "It was deeply troubling that SEBI's leadership, which publicly champions measures to boost transparency in the investment sector, has failed to adhere to these very standards within their own practices."
"Such de facto unethical conduct -- and possibly legally questionable behaviour -- by one of India's primary regulators is a serious threat to the stability of our regulatory environment. It not only shows distrust among Indian investors but also raises red flags for potential foreign investors, pushing India's growth prospects backward," according to the statement.
Gandhi later shared the video on his X handle and alleged that the government was saving the SEBI chief from an investigation.
He said, "Save from answering the PAC. Save from resigning from SEBI. Save Adani from investigation."
"Which is this syndicate that is 'protecting Buch'? And most importantly, why is it protecting her?" the former Congress chief asked.
In the Congress statement, Khera said the PAC took a stand by summoning SEBI officials, including Buch, who, "just an hour before her scheduled appearance, claimed an emergency, expressing her inability to attend".
BJP MPs protested the summonses, the Congress spokesperson claimed.
"We think this is no coincidence. We think that the government is trying to protect Ms Buch to save the bigger players in this nexus," Khera alleged.
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Muhammad Rizwan named Pakistan's white-ball captain, replacing Babar Azam
Lahore, Oct 27: Wicketkeeper-batter Muhammad Rizwan was on Sunday named Pakistan's ODI and T20 captain, replacing Babar Azam, as the selectors announced the squads for the white-ball tours of Australia and Zimbabwe beginning November 4.
Salman Ali Agha was made vice-captain for all future ODI and T20 international assignments.
Pakistan will play three ODIs and as many T20Is in their Australia tour, beginning with the first match in Melbourne (ODI) on November 4, and that will be Rizwan's first assignment as captain.
Agha will lead the T20I side in Zimbabwe as Rizwan is rested under a workload management plan, the Pakistan Cricket Board (PCB) said in a statement.
Pakistan's tour of Zimbabwe -- for three ODIs and three T20Is -- is from November 24 to December 5. The first match -- an ODI -- will be played in Bulawayo.
Babar, pacers Shaheen Shah Afridi and Naseem Shah returned to the Pakistan team for the Australia tour after being sidelined for two Tests against England. However, they have been rested for the Zimbabwe tour.
The PCB first announced the squads for the two white-ball tours before Rizwan was named the skipper for the ODI and T20I assignments in Australia, as well as the 50-over contest in Zimbabwe.
Many new faces have been brought into the squads, while senior players like Fakhar Zaman and Shadab Khan missed out on selection.
Fakhar is facing an inquiry from the Pakistan Cricket Board for tweeting in support of Babar before the selectors dropped him for the England Tests.
In some bold steps, the selectors have decided to use the ODIs and T20Is in Zimbabwe to test new players.
PCB Chief Mohsin Naqvi told a media conference here on Sunday that Babar "didn’t want to be captain" and "no one forced him to resign as captain".
“Babar is an asset. He spoke to me and he told me he didn’t want to be captain and let me make it clear that no one forced him to resign as captain. It is his own personal decision. He had sought advice before resigning. He wants to focus on his batting,” Naqvi said.
“After Babar’s decision I spoke to all selectors and five mentors and discussed the issue and everyone felt unanimously that Rizwan should be made captain in white ball with Salman Ali Agha as his vice captain."
He also said that Aaqib Javed is presently convenor of all selection committee meetings.
“We have not announced a chief selector but he is convening the meetings and I am grateful to them for the hard work they have put in to turn around the fortunes of the team.”
The 32-year-old Rizwan, who debuted in white-ball cricket in 2015, has played in 74 ODIs and 102 T20Is till date, scoring 5,401 runs with four centuries and accounting for 143 dismissals behind the stumps.
When he leads the team in the opening ODI against Australia in Melbourne on November 4, Rizwan will become Pakistan’s 31st captain.
In the first T20I in Brisbane on November 14, he will be the 12th to captain Pakistan in the format.
“I am deeply honoured to be appointed as Pakistan’s white-ball captain. Representing Pakistan on the global stage is the greatest privilege and to now be entrusted with leading such a talented and exciting group of players is a tremendous honour," Rizwan said in the PCB statement.
"Joining the ranks of some of Pakistan’s legendary limited-overs captains truly is the icing on the cake."
He said he is committed to giving his "absolute best" in the new role and look forward to working closely with the selectors, coaches and "the immensely talented teammates".
“Pakistan cricket holds immense potential across all formats ... we will build on our recent success against England to achieve even greater heights in what promises to be a challenging and busy season of white-ball cricket.”
Naqvi said he is optimistic that under Rizwan's leadership, Pakistan’s white-ball cricket team will once again become a force to be reckoned with on the international stage.
"I am confident that Rizwan’s leadership qualities, underpinned by his deep commitment and passion for the game, will help shape this talented team into a consistently successful unit."
Pakistan squads for Australia and Zimbabwe tours:
ODI squad for Australia tour: Mohammad Rizwan (captain), Salman Ali Agha (vice-captain), Aamir Jamal, Abdullah Shafique, Arafat Minhas, Babar Azam, Faisal Akram, Haris Rauf, Haseebullah (WK), Kamran Ghulam, Mohammad Hasnain, Muhammad Irfan Khan, Naseem Shah, Saim Ayub, Shaheen Shah Afridi.
T20I squad for Australia tour: Mohammad Rizwan (captain), Salman Ali Agha (vice-captain), Arafat Minhas, Babar Azam, Haris Rauf, Haseebullah (WK), Jahandad Khan, Mohammad Abbas Afridi, Muhammad Irfan Khan, Naseem Shah, Omair Bin Yousuf, Sahibzada Farhan, Shaheen Shah Afridi, Sufyan Moqim, Usman Khan.
ODI squad for Zimbabwe tour: Mohammad Rizwan (captain), Salman Ali Agha (vice-captain), Aamir Jamal, Abdullah Shafique, Abrar Ahmed, Ahmed Daniyal, Faisal Akram, Haris Rauf, Haseebullah (WK), Kamran Ghulam, Mohammad Hasnain, Muhammad Irfan Khan, Saim Ayub, Shahnawaz Dahani and Tayyab Tahir.
T20I squad for Zimbabwe tour: Salman Ali Agha (captain), Ahmed Daniyal, Arafat Minhas, Haris Rauf, Haseebullah (WK), Jahandad Khan, Mohammad Abbas Afridi, Mohammad Hasnain, Muhammad Irfan Khan, Omair bin Yousuf, Qasim Akram, Sahibzada Farhan, Sufyan Moqim, Tayyab Tahir and Usman Khan.
