Demand for JPC probe a sham, aim is to weaken economy: BJP on Hindenburg allegations

New Delhi: The BJP on Monday rejected the Congress' demand for a JPC probe into Hindenburg's allegation against the SEBI chairperson, saying it is a sham with an eye on weakening the Indian economy and destroying investment in the country.

BJP leader and former Union minister Ravi Shankar Prasad reiterated the party's line that the short-selling firm's charge and the opposition's criticism of the market regulator are part of a wider conspiracy.

He told reporters, "After being rebuffed by people, the Congress, its allies and its closest ally in the toolkit gang have conspired together to usher in economic anarchy and instability in India."

The 10-year-old rule of the Congress between 2004 and 2014 was marked by several alleged scams, Prasad noted as he questioned why such critical reports were not brought out then.

He alleged, "The Congress party leadership is involved in creating economic anarchy based on this fictitious report." He, however, asserted that investors have come to realise the "conspiracy" and rejected the attempts to jolt the market.

Noting that small investors have put their money in stock market in large numbers, he wondered why the Congress wants to harm them.

He claimed, "In its pathological hatred against Prime Minister Narendra Modi led by Rahul Gandhi and his toolkit friends, the Congress has developed hatred for India."

The SEBI had sent a notice to the US-based Hindenburg as part of its last year's allegations of stock market manipulation against the Adani group but it never joined the probe and has instead launched an attack on its chairperson Madhabi Puri Buch, he said. Prasad noted that the Supreme Court had ordered the investigation.

At the press conference, he also slammed the Trinamool Congress government in West Bengal over the rape and murder of a doctor at a state-run hospital, alleging that it was trying to cover up.

He said the state government should hand over the probe to the CBI.

Amid attacks on minority Hindus in the unrest-hit Bangladesh, the BJP leader questioned the silence of opposition leaders, including Rahul Gandhi, and noted that Modi had spoken about the need to protect them.