Congress MP Jairam Ramesh took a swipe at Sebi chief Madhabi Buch after U.S. short seller Hindenburg levelled allegations against her. File
| Photo Credit: PTI
The Congress on Saturday (August 10, 2024) used the Latin phrase “Quis Custodiet Ipsos” or “who will guard the guards themselves” to take a swipe at Sebi chief Madhabi Buch, after U.S. short seller Hindenburg levelled allegations against her.
Hindenburg has alleged that Ms. Buch and her husband had stakes in obscure offshore funds used in the Adani money-siphoning case.
Tagging the Hindenburg post on the allegations on X, Congress general secretary Jairam Ramesh said, “Quis Custodiet Ipsos Custodes (who will guard the guards themselves).”
In another post on the microblogging platform, Mr. Ramesh said, “Parliament was notified to sit till the evening of August 12th. Suddenly it got adjourned sine die on the afternoon of Aug 9th itself. Now we know why.”
In a blogpost, Hindenburg said 18 months since its damning report on industrialist Gautam Adani, “Sebi has shown a surprising lack of interest in Adani’s alleged undisclosed web of Mauritius and offshore shell entities.”
Citing “whistleblower documents”, it alleged: “Madhabi Buch, the current chairperson of Sebi, and her husband had stakes in both obscure offshore funds used in the Adani money siphoning scandal.”
The Sebi (Securities and Exchange Board of India), which had been investigating the Adani group even before the Hindenburg report, had told a Supreme Court-appointed panel last year that it was probing 13 opaque offshore entities that held between 14% and 20% across five publicly-traded stocks of the conglomerate. It has not stated if the two incomplete probes have since been concluded.
