Salve said it was “shameful” that some political leaders were taking Hindenburg’s claims seriously.
Following the latest allegations by US short seller Hindenburg Research, legal expert and senior advocate Harish Salve warned that trusting such organisations may one day call into question Indian judiciary.
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Speaking exclusively to NDTV on Tuesday, Salve was referring to the Opposition’s demand for a joint parliamentary committee to be set up to probe Hindenburg’s latest allegations that Securities and Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch and her husband Dhaval held shares in offshore entities allegedly used to perpetrate financial wrongdoings at the Adani Group.
The former attorney general said the Joint Parliamentary Committee (JPC) is not an appellate body and is set up only in rare cases where there is an issue of national importance. Salve stressed that the push for a JPC inquiry undermines the authority of the Supreme Court and regulatory agencies like SEBI.
“Tomorrow you will be seeking a JPC inquiry into the Supreme Court’s decisions on reservations and electoral bonds… this is not the original purpose of Parliament,” Salve told NDTV, adding that the Supreme Court’s orders are the final say in cases of alleged violations of law. “Can a parliamentary committee negate the Supreme Court’s position?” he questioned.
“Any other country would say the Hindenburg report goes in the dustbin. Hindenburg is trying to intimidate SEBI. India needs a defamation tribunal. Tomorrow, such an institution will not even spare a judge,” Salve told NDTV.
Legal experts also said it was “shameful” that some political leaders were taking Hindenburg seriously. “Why are people making outlandish allegations and not being punished? People’s reputations are not respected in India. It’s time to take reputations seriously,” Salve said, accusing short sellers of “making a fool of India”.
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