Lokpal Delays Inquiry into SEBI Chairperson

India's anti-corruption authority, Lokpal, has questioned the credibility of the Hindenburg Report, which served as the basis for complaints against Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI). The Lokpal stated that the complaints, including one from MP Mahua Moitra, lacked sufficient evidence to warrant a preliminary inquiry and requested complainants to provide verified materials supporting their allegations of corruption as defined under the Prevention of Corruption Act. The authority emphasized that allegations should be distinguished from ongoing investigations by SEBI and noted a Supreme Court ruling that endorsed SEBI's actions regarding the Adani group, which is implicated in the Hindenburg allegations. The Lokpal has set a deadline for additional submissions from the complainants by October 17, 2024, to reassess the validity of the claims. Buch has denied the allegations and asserted that her financial dealings are transparent.