New Delhi: The Indian National Congress (INC)—the country’s main opposition—has once again leveled serious charges against the SEBI chief, the Adani group, and the central government.
In a video clip, titled “Buch hai to syndicate hai” (as long as there is Madhabi Puri Buch, there is syndicate), Leader of Opposition in the Lok Sabha Rahul Gandhi has accused a “cartel of corporate giants” of affecting the country’s economic framework from within in an arrangement supported by those meant to guard its interests. The video was released by Gandhi’s verified account on YouTube. Gandhi also shared the link on microblogging site X (formerly Twitter).
Not just insider trading, but a case of direct conflict of interest: Rahul Gandhi
Alleging that the Buch scandal “isn’t just insider trading” but “a revealing case of direct conflict of interest”, Gandhi claims powerful regulators are “entangled with the very corporations” they oversee.
The video clip claims to uncover disturbing patterns in SEBI’s leadership and certain unethical dealings that have served to protect privileged cronies.
“This isn’t only about monopolies; it’s about safeguarding democracy, fair competition, and the voice of every Indian against a system bent on silencing them,” reads the video description.
Not mere oversight but…: Rahul Gandhi
This is not mere oversight but a coordinated scheme to exploit loopholes, distort regulations, and prioritize corporate profit over public interest, all while ordinary Indians pay the price, said the Congress chief.
In the six-minute-and-21-second video, Pawan Khera, INC’s media and publicity head, briefs Gandhi about various conflict-of-interest allegations against Buch.
“What is a ‘maharaja’? A maharaja is somebody who has full control of institutions, has full arbitrary power controls the legal and intelligence machinery and he does it not as a representative of the people but in his own interest,” Gandhi is heard speaking in the clip while visuals of PM Narendra Modi meeting billionaire Gautam Adani are displayed.
Episode 4! More in the making?
Friday’s video, posted on YouTube with the title “Buch Hai Toh Syndicate Safe Hai | Episode 4 | Rahul Gandhi”, follows similar content containing several serious charges against the three sides: Buch, the Centre and the Adani group.
Buch Hai Toh Syndicate Safe Hai pic.twitter.com/hPtnavSNHO
— Rahul Gandhi (@RahulGandhi) November 15, 2024
The INC has been voicing its concerns against the role played by the SEBI chief, the Adani group and the Centre in carrying out an alleged string of illegal activities, leveling serious charges against what it has described as a “monopoly bachao syndicate” over the past several weeks.
The Congress leader has claimed that the syndicate operates at the core of an allegedly dangerous tripartite nexus comprising the Adani group, some of the main regulatory bodies, and the Centre-ruling Bharatiya Janata Party (BJP).
Meanwhile, the INC has on several occasions demanded the establishment of a joint parliamentary committee (JPC) to probe the matter in detail.
The SEBI Chairperson and the Adani group have repeatedly denied any wrongdoing.
