Parl suddenly adjourned, now we know why: Congress after Hindenburg claims
Congress on Saturday used the Latin phrase “Quis Custodiet Ipsos” (who guards the guards themselves) to criticise Sebi chief Madhabi Buch after US short seller Hindenburg levelled allegations against her.
Hindenburg alleges that Buch and her husband had interests in shady offshore funds that were used in the Adani embezzlement case.
Congress General Secretary Jairam Ramesh tagged the Hindenburg post on the allegations about X, saying, “Quis Custodiet Ipsos Custodes (who will guard the guards themselves).”
In another post on the microblogging platform, Ramesh said, “Parliament was notified to sit till the evening of August 12. Suddenly, it was adjourned sine die on the afternoon of August 9 itself. Now we know why.”
In a blog post, Hindenburg wrote that, 18 months after the damning report on industrialist Gautam Adani, “Sebi has shown a surprising lack of interest in Adani’s alleged undisclosed web of Mauritius and offshore entities.”
Citing ‘whistleblower documents’, it alleged: ‘Madhabi Buch, the current chairman of Sebi, and her husband had interests in both obscure offshore funds that were used in the Adani money scandal.’
The Securities and Exchange Board of India (SEBI), which was investigating the Adani group even before the Hindenburg report, had last year told a Supreme Court-appointed panel that it was investigating 13 opaque offshore entities holding between 14 and 20 percent of five listed shares of the conglomerate. It did not indicate whether the two incomplete probes had been completed.