The decision for this nationwide agitation was made during a Congress meeting led by party president Mallikarjun Kharge, where key leaders gathered to discuss upcoming elections and address pressing national concerns. Kharge and other senior leaders emphasized the need for transparency and accountability, particularly in light of the accusations against the SEBI Chairperson, which they claim threaten the integrity of India’s financial markets.
Kharge stressed the importance of protecting small investors, whose interests may have been compromised by the alleged nexus between SEBI and the Adani Group. The Congress leader called for the Modi government to act decisively by removing Buch from her position and initiating a comprehensive JPC probe to investigate the matter.
Buch, however, has strongly denied the allegations, labeling them as baseless and part of an attack on SEBI's credibility. She has also stated that she has consistently disclosed potential conflicts of interest and recused herself from relevant decisions. The Adani Group, which has faced a series of allegations following Hindenburg's report, also rejected the claims, asserting that they are grounded in a selective manipulation of public information.
Despite the denials, Congress has intensified its efforts, accusing the government of shielding powerful corporate interests at the expense of ordinary citizens. The protests are being organized across the country, with Congress leaders mobilizing their supporters to demand immediate action. The agitation is part of a broader strategy to hold the government accountable and maintain pressure on financial regulatory bodies to ensure they operate independently and fairly.
As the protests gain momentum, the political climate is expected to become increasingly charged, with both the ruling party and the opposition engaging in heated exchanges over the issue. The Congress party’s move also aligns with its strategy to galvanize public support ahead of the upcoming assembly elections, where economic transparency and governance are likely to be central themes.
These developments are being closely watched by market analysts, political observers, and the general public, as the outcome could have significant implications for both the financial sector and the political landscape in India.