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MPCC demands immediate removal of SEBI chief in protest over Adani scandal

The protest aimed to push for an investigation into the alleged "MODANI Mega Scam" and called for the immediate removal of SEBI Chairperson Madhabi Puri Buch.

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Imphal: Led by Manipur Pradesh Congress Committee (MPCC) President Keisham Meghachandra and Congress Legislature Party (CLP) leader Okram Ibobi, dozens of Congress workers staged a protest in front of the Enforcement Directorate (ED) office in Imphal on Thursday. The protest aimed to push for an investigation into the alleged “MODANI Mega Scam” and called for the immediate removal of SEBI Chairperson Madhabi Puri Buch.

The Congress leaders also demanded a Joint Parliamentary Committee (JPC) probe into the Adani Group following allegations made by US short seller Hindenburg Research. The Research accused Buch and her husband, Dhaval Buch, of holding stakes in offshore entities linked to the Adani Group’s alleged financial misconduct.

Addressing the media, MPCC President K. Meghachandra accused Prime Minister Narendra Modi of protecting both Adani and the SEBI chief, emphasizing the need for a JPC investigation into the scam.

Former Chief Minister O. Ibobi Singh echoed these concerns, questioning the close relationship between the Prime Minister and certain industrialists, whom he claimed had damaged the nation’s economy for personal gain.

Senior Congress leader N. Bupenda Meitei, AICC Executive Member of Law and Senior Spokesperson of Manipur PCC, criticized the Union Government’s failure to meet its Supreme Court-mandated investigation deadlines. He questioned why SEBI had not completed two of the 24 pending investigations within the allotted time frame and why the Prime Minister continued to shield the SEBI chairperson.

Participants at the protest carried banners and placards with slogans such as:

  1. “We demand JPC on Modi-Adani mega scam.”
  2. “Remove SEBI Chairperson.”
  3. “Investigate Adani transactions.”
  4. “Investigate Adani mega scam.”
  5. “What is the relationship between Adani and SEBI Chairperson?”
  6. “What is the relationship between PM Modi and Adani?”
  7. “SEBI Chairperson must resign to restore SEBI’s integrity.”
  8. “Why is PM Modi protecting SEBI Chairperson?”
  9. “Immediately convene JPC to investigate the MODANI Mega Scam.”
  10. “What is the source of Rs 20,000 crores invested in Adani groups?”

The protest saw the participation of Congress leaders and workers from various levels of the party, including PCC, DCC, BCC, and several affiliated organizations.

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