Congress steps up attack on Modi govt, says 'Adani Bachao Syndicate' is in full swing

Leader of Opposition alleged that the current regime is no longer merely encouraging monopolies but actively concentrating the nation's wealth in the hands of a few.

New Delhi: Intensifying the attack on Narendra Modi government over Adani issue, Leader of Opposition in Lok Sabha Rahul Gandhi on Monday claimed that Institutional collapse has now given way to a "more dangerous form of cronyism -- 'Adani Bachao' (Save Adani).

Rahul alleged that the current regime is no longer merely encouraging monopolies but actively concentrating the nation's wealth in the hands of a few.

He made these remarks in his post along with a video in which he discusses with Congress Media and Publicity Department head Pawan Khera about the alleged conflicts of interest of SEBI chief Madhabi Puri Buch 

"Institutional collapse has now given way to a more dangerous form of cronyism -- Adani Bachao. The current regime is no longer merely encouraging monopolies, it's actively concentrating the nation's wealth in the hands of a few," Rahul said.

Rahul claimed that the allegations against Buch goes deeper than initially imagined and that it may be that Buch, entrusted with safeguarding retail investors, has been manipulating the system to protect Adani’s interests and his inflated valuations.

He claimed that those entrusted with protecting common Indians and their investments have abrogated their responsibilities and are indulging in wide scale corruption and malpractice

Sharing the video, Congress said, "the role of SEBI Chairperson is to maintain the security of the stock market and ensure investments of common Indians are not at risk. However, when the Chairperson is involved in manipulating the market to benefit a single player - like the Adani Group - then everyone’s money is at risk."

"That is what is happening with the Madhubi Buch Scandal. She has been placed in this position by Prime Minister Narendra Modi and Home Minister Amit Shah to give Adani a clean chit in allegations of stock manipulation," the party alleged.

Khera posted on 'X', "the government granted Rs 1.85 crore to Predible Health Private Limited under the Startup India Initiative. Interestingly this is the same company where SEBI Chairperson Madhabi Puri Buch held equity stake. This isn't mere coincidence, it’s a clear case of institutional capture and misuse of taxpayer money."