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Opposition hits out at Centre over Hindenburg report on Adani Group

US-based Hindenburg Research’s new report which claimed that the SEBI chief Madhabi Buch herself was involved in the case as she had stakes in the company.

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The Opposition parties on Sunday hit out at Prime Minister Narendra Modi-led Central government over US-based Hindenburg Research’s new report which claimed that the SEBI chief Madhabi Buch herself was involved in the case as she had stakes in the company.

In a post on X, Congress general secretary Jairam Ramesh said that SEBI’s strange reluctance to investigate the “Adani MegaScam” had been noted for a long time. He also demanded a probe by a Joint Parliamentary Committee.

SEBI’s strange reluctance to investigate the Adani MegaScam has been long noted, not least by the Supreme Court’s Expert Committee, he said. Adding that Committee had pointed out in its report that SEBI had in 2018 diluted and, in 2019, entirely deleted the reporting requirements relating to the ultimate beneficial (i.e. actual) ownership of foreign funds.

In his statement, he added that this had tied its hands to the extent that ‘the securities market regulator suspects wrongdoing, but also finds compliance with various stipulations in attendant regulations. He further said citing experts that it is this dichotomy that has led to SEBI drawing a blank worldwide.

Hindenburg Research’s latest allegation raises fresh questions about Gautam Adani’s two 2022 meetings in quick succession with Buch shortly after she was appointed as SEBI chairperson, the Congress leader said in a statement.

Earlier, in another post, Ramesh used the Latin phrase ‘Quis Custodiet Ipsos Custodes’ (Who will guard the guards themselves) to take a swipe at Madhabi Buch.

Meanwhile, Congress MP Manish Tewari said that a JPC must be constituted to go into the entire Hindenburg saga.

Speaking on the matter, he said that there has been certain revelations by the Hindenburg Research which have been put out in the public space.

The Congress leader said that they require closer scrutiny, underlining that, there seems to be some semblance of an alleged conflict of interest and so therefore under those circumstances there has been a demand in the public space for a while that the entire Hindenburg saga needs to be investigated properly by a joint parliamentary committee is constituted to go into all these issues at length.

The Trinamool Congress MP Mahua Moitra also took a dig over the allegations, saying that in true Adani style, even the SEBI chairman is an investor in his group.“Crony Capitalism at its finest,” she said in a post on X.

Moitra also demanded that the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) investigate alleged money laundering.

The AAP leader and Rajya Sabha MP Sanjay Singh, taking to X,  wrote, “The Hindenburg revelations were hinted at 3 days before Modi ended the Parliament session. Modi Government is steeped in corruption from head to toe. To save his friend Adani, Modi Ji got the investigation done by the same SEBI Chairman who had committed the scam in connivance with Adani. SC should reconsider its decision.”

The Samajwadi Party leader Ghanshyam Tiwari also lashed out at the Central government and said that the tenure of PM Modi will be known for ‘Adani-waad’.

He said the whole world witnessed a different session with different ideologies but the term of PM Modi will be known as ‘Adani-waad’. In this Adani-waad, he said, they captured the whole economic system of India in such a way that Gautam Ad could benefit, it looks like this is the only motive of Prime Minister Modi.

The US short-seller Hindenburg Research released its reports on August 10 alleging market watchdog SEBI chairperson Madhabi Buch and her husband Dhaval Buch were involved in Adani Group’s offshore funds. The report further suggested that these obscure financial systems were allegedly used in the money-siphoning scandal.

However, at the centre of the storm, the SEBI chairperson and her husband issued a joint statement denying all charges. They said that it was an attempt of “character assassination.

According to the Hindenbur report, Madhabi Buch and her husband Dhaval Buch first appear to have opened their account with IPE Plus Fund 1 on June 5th, 2015 in Singapore, per whistleblower documents.

A declaration of funds, signed by a principal at IIFL states that the source of the investment is “salary” and the couple´s net worth is estimated at $10 million. 

India News

Abhishek Banerjee says will not bow to BJP after nearly 11 hours of ED questioning

After spending nearly 11 hours before the Enforcement Directorate, TMC leader Abhishek Banerjee said he would not bow to the BJP and accused the ruling party of using investigative agencies for political purposes.

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Abhishek Banerjee

Trinamool Congress leader and Diamond Harbour MP Abhishek Banerjee on Tuesday said he would not bow to the BJP after spending nearly 11 hours being questioned by the Enforcement Directorate (ED) in connection with an ongoing investigation.

Speaking after the questioning, Banerjee alleged that central agencies were being used to target opposition leaders and asserted that he would continue his political fight despite what he described as sustained pressure.

The TMC leader has repeatedly maintained that investigations involving him are politically motivated, a charge he has made on several previous occasions while appearing before central agencies.

His appearance before the ED comes amid a period of heightened political activity and multiple investigations involving leaders in West Bengal. Recent days have also seen Banerjee face summons and questioning in separate matters by state investigative agencies.

After leaving the ED office, Banerjee reiterated that he would not be intimidated and said he remained committed to his political responsibilities. He also accused the BJP of attempting to weaken opposition parties through investigative action, an allegation that the BJP has rejected in the past.

The Enforcement Directorate has not publicly commented on Banerjee’s remarks. The investigation related to the questioning remains ongoing.

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India News

DMK attacks Rahul Gandhi, accuses him of weakening opposition unity

DMK has intensified its criticism of Rahul Gandhi, alleging that the Congress leader’s actions have weakened opposition unity and strained relations within the INDIA bloc.

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Rahul-Gandhi

The war of words between the DMK and Congress has intensified, with the DMK launching a strong attack on Leader of Opposition Rahul Gandhi and accusing him of contributing to divisions within the opposition alliance. The criticism comes amid strained ties between the two parties following their political split in Tamil Nadu.

According to the DMK, Rahul Gandhi’s political approach has weakened unity among opposition parties. The party’s IT wing mocked the Congress leader on social media, while an editorial published in the DMK’s official mouthpiece Murasoli questioned his recent remarks on opposition solidarity.

DMK questions Rahul Gandhi’s remarks on opposition unity

In its editorial, Murasoli argued that Rahul Gandhi was speaking about opposition unity despite, according to the DMK, contributing to disagreements among alliance partners in several states. The publication cited criticism directed at Congress by various opposition parties and suggested that the party’s actions had often created tensions within the INDIA bloc.

The editorial also referred to past political disputes involving Congress and Left parties, particularly in Kerala, claiming such episodes had raised concerns among opposition allies about Congress’s approach toward its partners.

Tamil Nadu political fallout adds to tensions

The attack comes after a major political realignment in Tamil Nadu. Following the 2026 Assembly elections, Congress ended its alliance with the DMK and joined the government led by Vijay’s Tamilaga Vettri Kazhagam (TVK). The move left the DMK in the opposition and significantly altered the political equation between the two former allies.

The DMK has alleged that Congress benefited from the alliance during the election and later abandoned its partner. The party’s editorial questioned whether assurances from Congress leadership would be trusted by alliance partners after the developments in Tamil Nadu.

Congress rejects allegations

Congress has not issued a detailed official response to the editorial, but party sources have rejected the allegations. According to the party, its decisions in Tamil Nadu were made in line with the mandate delivered by voters and were not intended to undermine either the DMK or the broader opposition alliance.

The latest exchange highlights growing strains between two key opposition parties even as leaders continue to stress cooperation on national issues. Just days earlier, Rahul Gandhi had said that the DMK remained aligned with the opposition on defending the “idea of India” despite political differences.

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Entertainment

Kumkum Bhagya actor Sanchita Ugale dies by suicide near Mumbai at 22

Television actor Sanchita Ugale, known for Kumkum Bhagya and Wagle Ki Duniya, died by suicide at her residence near Mumbai. Police have launched an investigation.

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Sanchita Ugale

Television actor Sanchita Ugale, known for her appearances in Kumkum Bhagya, Wagle Ki Duniya and Dilwali Dulha Le Jayegi, died by suicide at her residence in Nalasopara East near Mumbai on June 14. She was 22.

According to police officials, the incident took place at her home in Achole village, Nalasopara East. Authorities said Ugale had locked herself inside her bedroom and was later found hanging from a ceiling fan. Family members and local residents rushed her to a hospital, where doctors declared her dead.

Police have registered an Accidental Death Report (ADR) and launched an investigation into the circumstances surrounding her death. Officials said inquiries are underway and the exact reason behind the incident has not yet been established.

Career across television, OTT and films

Ugale had built a growing presence in the entertainment industry through television, streaming projects and films. Apart from Kumkum Bhagya and Wagle Ki Duniya, she played a lead role in Dilwali Dulha Le Jayegi. She also appeared in OTT projects such as Crime Aaj Kal and Silence 2.

The actor was also associated with the film Chhaava, which contributed to her growing recognition among audiences.

Last social media post draws attention

Following news of her death, social media users shared and commented on Ugale’s final Instagram post, which had been uploaded hours before the incident. The post showed the actor in traditional attire lip-syncing to a classic Bollywood song. Fans expressed shock and grief after learning of her death.

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