Institutional collapse gave way to cronyism: Rahul

PTI New Delhi: Stepping up his attack over conflicts of interest allegations against SEBI chief Madhabi Buch, Congress leader Rahul Gandhi on Monday said the current regime is no longer merely encouraging monopolies but actively concentrating the nation’s wealth in the hands of a few. Gandhi, the Leader of Opposition in the Lok Sabha, made the remarks in his post along with a video featuring him and Congress’ media and publicity department head Pawan Khera in which they talk about the alleged conflicts of interest of SEBI chief 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,” Gandhi said.

The Madhabi Buch scandal goes deeper than initially imagined, he said, adding that it may b e that Buch, entrusted with safeguarding retail investors, has been manipulating the system to protect Adani’s interests and his inflated valuations. Those entrusted with protecting common Indians and their investments have abrogated their responsibilities and are indulging in wide scale corruption and malpractice, he alleged. The Congress has consistently raised these issues, is investigating these scams, and exposing the truth to the public, Gandhi said.