BJP's Gourav Vallabh jabs Congress on siding with Hindenburg allegations, says 'They are more concerned about foreign interests than...'

BJP leader Gourav Vallabh on Monday took potshots at the Congress party for allegedly siding with Hindenburg Research on Sebi chief and accused them of conspiring with foreign entities to destabilize the stock market.

In a video shared by PTI, he claimed that Congress's actions have historically prioritized foreign interests over those of the country, and now these foreign forces are attempting to disrupt India's economic growth, including the stock market, wealth creation, and income of middle-class families and small investors, despite the Indian stock market remaining strong in the face of the Hindenburg report.

"Congress has a long history of being more concerned about foreign interests than the interests of the country. Today, these foreign forces want to stop the pace of Indian economy, want to stop the growth of India's capital market, stop the wealth creation middle class families of India, stop the income of small investors of India, but India's stock markets are too strong. Market remained unaffected today despite Hindenburg report, it closed at almost the same level where it closed last Friday..." BJP leader said.

He asserted that the current foreign entities are attempting to hinder the progress of the Indian economy. According to Vallabh, these external forces aim to disrupt the growth of India's capital markets, stall the wealth creation for middle-class families, and undermine the income of small investors. He pointed out that the market remained largely unaffected by the report and closed at nearly the same level as it did the previous Friday.

Hindenburg had on Saturday alleged that the Sebi chairperson Madhabi Puri Buch opened an account in 2015 with a wealth management firm in Singapore to invest an undisclosed sum of money in a Mauritius-registered offshoot of a Bermuda-based fund. The Mauritian fund was run by an Adani director and its ultimate parent was the vehicle used by two Adani associates to round-trip funds and inflate stock prices. Hindenburg also alleged that she held 100 per cent interest in a Singaporean consulting firm, Agora Partners from April 2017 to March 2022 while she was a whole-time member of Sebi. She passed on the shares to her husband two weeks after her appointment as the Sebi chairperson. 

Congress leaders demanded a probe into US-based short seller's allegations and also asked the SEBI chief to resign from her position.