BJP Dismisses JPC Call, Congress Vows Nationwide Protests

The political tussle between the Bharatiya Janata Party (BJP) and the Congress escalated on Monday over the controversy surrounding Hindenburg Research’s allegations against the chairperson of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch. The BJP dismissed the Congress’s call for a Joint Parliamentary Committee (JPC) to investigate the allegations, arguing that the demand was unwarranted and politically motivated.

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The BJP accused the Congress of being part of a larger conspiracy involving Hindenburg Research and a so-called “tool kit” gang, whose alleged aim was to destabilize India’s economic landscape. According to the BJP, this conspiracy sought to instigate chaos by intentionally crashing the stock market at the start of the week, thereby creating an atmosphere of economic instability and panic across the country. However, the BJP argued that this plan had failed, as evidenced by the stability of the financial markets, which did not succumb to the predicted volatility.

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BJP and Congress Clash Over Allegations Against SEBI Chair

Former Union Minister Ravi Shankar Prasad addressed a press conference, asserting that investors were not swayed by the alleged conspiracy and saw through the machinations designed to trigger market turmoil. He emphasized that the Indian economy remained resilient and robust, despite the attempts by certain entities to foster economic anarchy.

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Prasad further argued that the Congress’s insistence on a JPC probe was a political strategy rather than a genuine concern for the integrity of SEBI or the Indian economy. He suggested that the opposition was using this issue as a pretext to malign the ruling party and disrupt the functioning of the financial regulatory framework.

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