Congress on Saturday used the Latin phrase “Quis Custodiet Ipsos” or “who will guard the guards themselves” to take a dig at SEBI chief Madhabi Buch, after US short seller Hindenburg levelled allegations against her.
Hindenburg has alleged that Buch and her husband Dhaval 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, 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.”
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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 per cent and 20 per cent across five publicly-traded stocks of the conglomerate. It has not stated if the two incomplete probes have since been concluded.
