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SEBI should be investigated: SP chief Akhilesh Yadav

Amid the allegations leveled by US research and investment company Hindenburg Research against Securities and Exchange Board of India (SEBI) chief Madhavi Buch, Samajwadi Party (SP) president Akhilesh Yadav on Sunday demanded a SEBI investigation. Yadav said on Twitter, “There should be a historical investigation of SEBI because SEBI’s history has been such that it has never become the protector and support of investors in the true sense.” He said, “Only an impartial investigation can restore SEBI’s reputation to instill a sense of security towards investment in the Indian market. A thorough investigation of the SEBI case is inevitable for India’s economy.” Hindenburg Research has alleged that it suspects that the reason for SEBI’s reluctance to take action against the Adani Group may be that Buch had a stake in a foreign fund linked to the Adani Group. SEBI chief Buch and her husband have issued a joint statement completely rejecting Hindenburg’s allegations and calling it completely baseless. Adani Group termed the latest allegations by Hindenburg Research as malicious and selectively manipulating public information and said it has no commercial relationship with market regulator Sebi chairperson or her husband.

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