What Will Happen After Hindenberg Exposed SEBI Chief Madhabi Puri Buch Deep Connection With Adani Group Of Companies
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![Madhabi Puri Buch](https://www.inventiva.co.in/wp-content/uploads/2024/08/SEBI-Madhabi-Puri-Buch_Adani-Offshore-Entities-_Hindenburg-Research_Plunge-780x470.png)
As the dawn breaks on Monday, the Indian share market is set to experience a severe crash, one that will send ripples of panic across the financial spectrum. Investors, both large and small, will scramble to salvage what they can as their portfolios take a nosedive. The headlines will scream of financial doom, and the economic pundits will dissect every aspect of the collapse, trying to make sense of the sudden downturn.
But as has been the case in previous crises, this will be a temporary storm. Within three months, Prime Minister Narendra Modi’s government will step in, implementing a series of measures that will stabilize the market. The initial panic will give way to cautious optimism as the government showcases its ability to manage the crisis. However, this recovery will be superficial, a Band-Aid on a festering wound, hiding the systemic issues that continue to plague India’s financial system.
The initial shock of the market crash will inevitably lead to calls for accountability. Fingers will be pointed at the Securities and Exchange Board of India (SEBI), the regulatory body tasked with overseeing the financial markets. To placate an increasingly restless public, the SEBI chairman might be transferred or even sacked. This move, however, will be more about optics than actual reform.
The government will present this as a decisive action, a step taken to restore confidence in the financial markets. But beneath the surface, it will be clear that this is a sacrificial lamb, meant to divert attention away from the deeper issues at hand. No real action will be taken to address the underlying causes of the market crash, and the status quo will remain firmly in place.
In the aftermath of the crash, there will be a flurry of legal activity. Public Interest Litigations (PILs) will be filed in the courts, as concerned citizens and advocacy groups seek justice. They will argue that the crash was not just a result of market forces, but of systemic failures that could have been prevented. However, these PILs will face an uphill battle.
The judiciary, under pressure from the government or influenced by powerful legal figures like Cyril Shroff, will likely dismiss these cases. The courts will argue that there is no merit to the claims, that the market crash was an unfortunate but natural occurrence. In reality, these dismissals will be a reflection of the judiciary’s inability or unwillingness to challenge the government’s narrative. Justice will be elusive, and the public will be left with little recourse.
As the dust begins to settle, attention will turn to SEBI chief Madhabi Puri Buch, who will find herself at the center of the controversy. Within three to four months, it is likely that she will quietly leave the country, securing a position in a foreign company. Her departure will be framed as a natural career move, but in reality, it will be an escape from the mounting scrutiny and pressure.
Her exit will mark the end of any meaningful inquiry into her role in the crisis, and the public will be left with more questions than answers. The government will breathe a sigh of relief as yet another potential scandal is quietly swept under the rug.
In a bid to further pacify the public, the government might initiate inquiries through the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI). These investigations will be launched with great fanfare, presented as a sign of the government’s commitment to accountability.
However, these inquiries will be little more than a charade. The outcome will be predetermined: after a cursory investigation, a clean chit will be handed out, and the real culprits will remain unscathed. The investigations will serve their purpose, keeping the public at bay while the government ensures that no real damage is done to its reputation or that of its allies.
Within six months, the noise will die down. The reports and investigations that once dominated the headlines will be quietly shelved, never to be heard of again. The public, weary from the constant barrage of crises, will move on, as they always do. The media will find new stories to chase, and the cycle will continue.
The crash, the investigations, the public outcry—all of it will be forgotten as the country moves on to the next crisis. The government will have successfully weathered yet another storm, emerging unscathed and stronger than before.
In Parliament, there will be debates, but they will be carefully controlled. Opposition members will find their microphones muted, their voices drowned out by the ruling party’s dominance. Frustrated, they will stage protests and walk out, but their absence will only serve to further entrench the government’s narrative.
The debates will be remembered not for their content, but for the futility of dissent in a system designed to suppress it. The government will use these debates as a platform to reinforce its control, showcasing its ability to manage the crisis while silencing any dissenting voices.
As time passes, everything will return to normal. Adani shares, which may have taken a hit during the crisis, will begin to rally once again. The stock market will stabilize, and the financial elites will emerge unscathed. The next election will see Adani once again playing a pivotal role, sponsoring campaigns and securing billion-dollar projects that will further consolidate his empire. The cycle will continue, with the same players pulling the strings behind the scenes, ensuring that the status quo remains firmly in place.
Despite India’s status as the world’s third-largest economy, the reality for millions of its citizens will remain bleak. Data manipulation and selective reporting will create a facade of economic success, but beneath the surface, poverty will continue to plague the nation. The gap between the rich and the poor will widen, and the so-called economic miracle will ring hollow for those left behind.
The government will continue to tout its economic achievements, but the reality on the ground will tell a different story. India will continue to be one of the poorest countries in the world, despite its growing economy.
The next election will once again see Adani playing a key role in sponsoring campaigns and securing projects. Billion-dollar deals will be awarded to Adani, further entrenching his influence over the Indian economy. The cycle of crony capitalism will continue, with the same players reaping the rewards while the public bears the brunt of their actions.
The government will continue to manipulate data, presenting a rosy picture of the economy while the reality remains grim. The public, meanwhile, will continue to struggle, their voices drowned out by the powerful elites who control the country’s destiny.
Conclusion: The Habit of Moving On
India has become a nation inured to crisis and corruption. The public has grown accustomed to scandals, to economic manipulation, and to the steady erosion of democratic institutions. When faced with injustice, the response is no longer outrage, but resignation. Indians have become habituated to the wrongs around them, moving on with their lives as the cycle of corruption and impunity continues. This is the new normal—a nation that endures, not because of its resilience, but because of its resignation to the status quo.
The cycle is clear: a crisis occurs, the public reacts, the government takes superficial action to pacify the masses, and then everything returns to normal. But in this cycle, nothing changes. The underlying issues remain unaddressed, the powerful remain unaccountable, and the public remains powerless. The habit of moving on has become ingrained in the Indian psyche, a defense mechanism against the relentless barrage of crises that define the nation’s political and economic landscape.
As India continues to navigate these turbulent waters, one thing remains certain: the cycle will repeat itself. The next crisis is always just around the corner, waiting to erupt. And when it does, the public will once again react, the government will once again act, and the nation will once again move on. The question is not whether this cycle will continue, but how long it can persist before something finally gives way. Until then, the habit of moving on will remain, a testament to a nation that has learned to endure but forgotten how to demand change.