The Adani-SEBI-Hindenberg Scams & Scandals Also Put Role Of Judiciary Into Suspicions. It Exposes The Deep Rooted Corruption In Indian Judiciary.
'Son's father-in-law still on Sebi committee': Mahua Moitra.
Judiciary Compromised: The Adani-SEBI Nexus Exposed
The recent revelations brought to light by the Hindenburg Reports have shaken the very foundations of India’s financial regulatory framework. The reports expose a disturbing nexus between the Adani Group of Companies and Madhabi Puri Buch, the current Chairperson of the Securities and Exchange Board of India (SEBI). This unholy alliance raises serious questions about the integrity of the judiciary and regulatory bodies in India.
The Madhabi Puri Buch-Adani Nexus
Hindenburg’s explosive report exposes how Madhabi Puri Buch, entrusted with the responsibility of safeguarding investor interests as SEBI’s Chairperson, is deeply entangled with the Adani Group. It has been uncovered that Buch had substantial stakes in offshore entities implicated in the Adani money siphoning scandal. This revelation is alarming, as it directly points to a conflict of interest at the highest levels of India’s financial regulatory body.
Profit from the Adani Stock Boom
Buch’s personal financial gains are directly tied to the performance of Adani stocks. As the prices of Adani’s stocks soared, so did her profits. This financial incentive raises grave concerns about her ability to act impartially. Despite multiple reports and allegations of scams within Adani group companies, Buch remained conspicuously silent. Her inaction speaks volumes, suggesting a deliberate attempt to shield Adani from scrutiny.
The 2022 Meeting: A Prelude to Inaction?
In 2022, when Madhabi Puri Buch assumed the role of SEBI Chairperson, a meeting with Gautam Adani followed shortly after. This meeting, though unpublicized, appears to have set the stage for the SEBI’s subsequent lack of action against the Adani Group. The timing of this meeting, coupled with her vested interests, paints a damning picture of regulatory capture.
A Political Plant by Adani?
There is growing speculation that Madhabi Puri Buch’s appointment as SEBI Chairperson was orchestrated by Adani himself, leveraging his close ties with Prime Minister Narendra Modi. Buch’s late entry into government service at the age of 51 is unusual, raising questions about the motives behind her selection. It is no secret that Adani and Modi share a close relationship, and this connection seems to have played a pivotal role in Buch’s rise to power.
The Cyril Shroff Connection
Adding another layer to this web of corruption is Cyril Shroff, a relative of Adani and a member of SEBI’s Board of Governance. Shroff, who owns one of India’s largest law firms, Cyril Amarchand Mangaldas, wields significant influence within the judiciary. His deep-rooted connections with SEBI and the judiciary have allegedly ensured that no investigation into Adani’s stock manipulation scams ever sees the light of day. Shroff’s role in controlling SEBI’s actions—or rather, inactions—further cements the perception of a compromised regulatory system.
The Judiciary’s Deafening Silence
One of the most damning aspects of this entire saga is the judiciary’s silence. Despite mounting evidence of wrongdoing, no judge has dared to take suo moto action against the Adani Group. This reluctance can be attributed to two key factors: the influence of Adani’s political connections and the judiciary’s own vested interests. Many judges, eyeing post-retirement benefits, are unwilling to risk antagonizing the ruling government. Furthermore, Cyril Shroff’s extensive network within the judiciary acts as a formidable deterrent to any potential investigation.
The Implications for Indian Democracy
The judiciary’s inaction in the face of overwhelming evidence against Adani is not just a failure of one institution but a threat to the very fabric of Indian democracy. When regulatory bodies and the judiciary become pawns in the hands of corporate giants, the rule of law is eroded, and the interests of the common citizen are trampled upon.
The Hindenburg Reports have laid bare the corrupt underbelly of India’s regulatory and judicial systems. The collusion between SEBI, Adani, and the judiciary is a stark reminder of the dangers of unchecked corporate power. It is imperative that these connections are investigated thoroughly, and those responsible are held accountable. Only then can we hope to restore faith in the institutions that are supposed to uphold justice and fairness in our society.
