'Zero Credibility in Sebi's Hindenburg Response,...a Textbook Example of How Not to Handle a Crisis'
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- čas přidán 9. 09. 2024
- SEBI’s response to Hindenburg has ”zero credibility…a text book example of how not to handle such a situation”: Sucheta Dalal, Managing Editor, Moneylife to Karan Thapar for The Wire
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In a hard-hitting interview, Sucheta Dalal, the Managing Editor of Moneylife and perhaps the country’s most highly regarded commentator on capital markets, says SEBI’s response to the recent Hindenburg allegations has “no credibility, zero credibility”. Speaking about SEBI’s handling of the Hindenburg allegations since January 2023, when they first broke, Ms Dalal calls them “a text book example of how not to handle such a situation”.
In a 25 mt interview to Karan Thapar for The Wire, Ms Dalal raises serious and disturbing questions both about SEBI, as the market regulator, and Madhabi Puri Buch, SEBI’s chairperson. Ms Dalal also raises potentially damaging questions about the behaviour - actually silence - from SEBI’s board of directors and the ministry of finance.
There are several different issues raised in this interview about Madhabi Buch and her husband Dhaval and also about SEBI’s functioning in the years before Buch became chairperson as well as about the chairpersons who preceded her.
Rather than précis or paraphrase the interview I will leave you to hear what Sucheta Dalal has said for yourself. She’s spoken clearly, simply, analytically and unequivocally. If you want to get a good handle on the issues and concerns underlying this story I strongly recommend you see this interview.
I will however add that Sucheta Dalal is skeptical of a JPC but does believe “some sort of short quick investigation is required to restore the credibility of the capital markets regulator”.
Join The Wire's CZcams Membership and get exclusive content, member-only emojis, live interaction with The Wire's founders, editors and reporters and much more. Memberships to The Wire Crew start at Rs 89/month. / @thewirenews
All the points are very valid. But the government is not going to care about public money.
Pappu tried to loot public in partnership with hindenberg but Modi gov is sleeping, pappu still free
It is not "government is not going to care about public money"; it is to be mentioned as "government is not going to care anybody" 😂
@@SNK1059Finance minister planning Hindenburg Tax 😂 soon 🔜 for further allegation
And Watchdog proved to be a petdog 😢😢
Continue to vote for modiya; madhuri is bringing in kala dhan from switz😂
Brilliant discussion which bares the issues peel by peel and captures what's wrong, why is it so, what should have been done in the first place and the way forward. In a way it's a 360° coverage.
As ever, respect for Mr. Thapar for doing a phenomenal job, err routine for him! 😅
And salute to Ms. Dalal, who's as articulate as she's knowledgeable and top that with integrity & courage, what more do you need...
Both are left looking ,😅
Come on man, don't be so mean. Things are not as simple as they look.
Watchdog proved to be a petdog 😡😢😢
Thank you, Karan, and Ms Dalal. A very clear, crisp, and informative interview!
I think govt is again and again benefitting crony capitalism.See how Hasdev forests were cut in Chattisgarh and mines were allocated to Adani.Similar thing happened in Bauxar MP and Mollem Goa.There is no fuss in mainstream media about this.
Sucheta Ma'am, her Husband and Moneylife seem like the only ray of light in an ocean of idiots spewing nonsense to take advantage of peoples greed and idiocy. Thank you for your work Ma'am.
This is a brilliant interview and strong discussion on the stock market regulator and it's chief. A lot of very important points were discussed. I am astonished how the SEBI chief is getting such dismal legal advise before she comes to the public. I hope the central government and the finance ministry in particular notices this discussion.
Wonderful comments to karan interview, trying to understand what happened
we are 75 years old & yet we are not concerned about quality in any field in our country. Is it a problem of our DNA? "Chalta hai attitude" is yet the signature for our living!
Who elected the government of the last 10 years.
Accountability of institutions supposed to be independent is at bottom. Government liberalises every business or services without any control whether it is capital market, education or hospitals. Politicians are happy to have rich capitalists for their needs, freebies for votes and taxes to middle class. One can see the efficiency of security of doctor at Kolkata
The press release in the media was unsigned
Not just the response to the Hindenberg report, but also SEBI's investigation report to the Supreme Court, has no credibility whatsoever. The SEBI chairperson should step down.
Should be arrested and her properties confiscated
@@honeyleom Its Ache din for some people.
@@andy22222ify for MP and Rajasthan people
This government is shamelessly shameless.
What's happening in the country?
Shockingly, every mischief is being done openly and without any fear.
True,open loot of common man is happening by gang of pappu n hindenberg,but bjp is sleeping
@@PraakashRanjannThey are deep sleep.
@@Dadasahab1234 But Indians were awake n they failed pappu gangs short selling 🤣🤣
Watchdog proved to be a petdog 😢😢
@@Jai_Hind_1 don't demean dogs by comparing pappu with them.Dogs are faithful but Pappu and his ancestors were traitors
The whole world is crying foul for SEBI Chairwoman and I am sure she must be wanting to relinquish her post but she is not being allowed to . Playing a pawn in the hands of people who have vested interest.
Sucgeta Dalal's analysis is so precise, explanatory, objective, and clinching ..
She now become pappu dallal🤣🤣
Educative talk on Financial regulator SEBI by Sh Karan Thapar Ji. Good analysis
Two of the finest in discussions. Their names weighs in gold. One made participant leave interview after a glass of water while Ms Sucheta Dalal Ji brought to light SCAM 92.
Both well respected, followed and offer so much to learn.
Fully agree with Sucheta in these points regarding credibility issue of SEBI.. forget Soros..I as retail investor have questions.. feel free to ignore this concern if we have 🍌 constitution and republic in Bharat..if not this needs to investigated by "independent review"..
Shockingly market has not reacted to this news at all, more reasons to believe that our markets are now overvalued and are in a bubble
@@concernedindian144 Market is now propped up by DII..as per data FII are withdrawing amount.. don't worry..it will fall soon when real owners start demanding accountability..
The regulators should not be government agencies but professional bodies
Actually that is worse, those bodies will be filled persons from private corporations, in effect they will be a judge in their own case. The 2008 crash was overseen by professional regulators. They will be answerable to those who pay for the regulating fee
Irrespective of the allegation being true or false, it is the duty of the concerned authority to initiate thorough investigation to restore the credibility of SEBI. No amount of denial or discrediting the Hindenburg would suffice.
Supreme court has accepted SEBI investigation as gospel truth. Will it change its approach and critically evaluate what SEBI comes forthwith in this issue?
Suchetha is one of the sharpest in financial analysis. Karan is the same in interviewing. Two of my favorites in one screen ✨
It's plain deception. Period.
Ms. Sucheta is so precise with her points. Shows our system is moving away from professionalism and moving towards a banana republic.
Proud of Sucheta Mam for her courage, which is short in our Nation today.
Why was Sucheta not introduced properly by Karan?
Rejecting the Hindenburg like a piece of dirt has bounced back on the Government itself. Defending a person having (allegedly) indulged in.irregularities by the Govt is not understood ; instead of taking that person to task , or seek clarifications ??
Could not understand why government always defy an enquiry?
The reson is obvious.if enquiry is held modani will be caught with pants down@@AftabKhan-lg8uc
What is the reaction and the response from the expert committee appointed by SC on this conflict of interest. SC should simply ask the committee to schedule a video conference between her husband and the committee members and then submit that video recording to be displayed in Supreme Court as it is Not a criminal case but a civil case with a criminal mind
Excellent analysis. The chairman SEBI is protecting the Govt of the day to retain her position & Central Govt.
Even SC is callous.
As long as Govt. is behind the SEBI, authentic response is not expected from SEBI ? Govt expects sebi to protect Adani/ Ambanis interest ?
Shashi Tharoor once made a stupid comment " Cattle Class"
Immediately he resigned
So should the SEBI chief.
Truth ultimately Prevails❤
When did he make that comment ?
Unfortunately government is not doing anything good to protect our shareholders by making it accountable so that ppl feel relieved
Was amazed with the response from govt so far.. have we arrived tho this stage 😮 Rahul should take up this issue in Parliament. Its been reported that parliament session was shut down early this time because Modi govt knew that after the disclosure this will become BIG bawal in parliament.. God save this country
Very serious investigation with full integrity is necessary.
Credibility of SEBI , the regulator of Stock market ,must be protected at any cost that's imperative and necessary
Irrefutable and another Excellent Interview!!!
Here wire has picked up most important and burning topic ie Heedenburg part 2, Suchita Dalal ji no doubt undisputed, most qualified for the subject., Suchita ji is master of subject and her opnion is always welcomed throughout india even abroad.
Karan interview always matters most like his earlier interviews. He has grip and try to lead interview to some conclusive era.
Ultimately jpc is most important and accepted solution to unearthen the mysteries behind Heedenburg part 2. reports.
How many JPC did we have for various issues and what is the result.. nothing.. Political tamasha..NDA will be majority, Opposition minority..soft question to the accusers.. entities pay money to members and issue solved.. useless process.. corruption by others means.
aasu aa gaye tumhara kachra bakwaas parke.
@@user-yx9wq2cl1n ji haan..ji haan..😭🤣😂
Leaving Crores of Dollars and Joinning for petty lacs shows that she was not a fool to join SEBI
One of Adani’s company’s share went up from Rs. 200 to almost Rs 4000 in 3 years. Where was SEBI then?
Sebi was sleeping like modi😂😂😂😂😂
Sking adani😂😂😂
It was a sleeping partner is everyone's guess 😂
@@florawatele1764 🤣 definitely sleeping
Only RAGA is fearlessly, consistently, daringly and sincerely defending THE TRUTH and working to bring THE TRUTH to LIGHT.
We also have faith in our CJI.
Hope many follow the narrow path of THE TRUTH and leave behind a legacy for next generations.
❤
Very good discussion.. Ms Dalal is so beautifully explained about the wrong deeds and how institutions need to avoid and define 'conflict of interest'
The wire should translate or conduct this interview in hindi with Ms Dalal.
Sucheta Dalal for SEBI Chairperson! ❤
Reports say that BJP is putting all it's efforts to make people forget about Hindenburg report and make people more active in Kolkata's incident 😑
All you questioned should make aware the Indian public they should make aware of things what’s happening around them without their knowledge. Super interview. I request that this type of important interviews should be wired in major languages of India, because each state is having population in multiple crores and they should understand these things and 90 percent of them understand in their own language when very sensitive issues are discussed.
The issue has been clouded by kolkota case
Diversion
Thanks for interviewing Ms Sucheta Dalal. She is one of the finest and credible financial journalists in India.
Thank you for the fantastic discussion. Hope the finance ministry and Supreme Court have an inquiry headed by Sucheta Dalal.
Ignorance of people in general on issues related to stock market regulations,keeps the Government afloat . Those who understand and raise a red flag are all declared anti nationals.
As always, KT is brilliant. I would wish another opportunity for “Dosti bani rahe..”.
me too 😄
Brilliant discussion as always. The whole thing, not just a few elements, has become the scam.
Good job, Chodiji. And Madhwi Puri Butch'err' is going to jail. 👏
Excellent discussion. Thank you Sucheta ji and Karan ji
JPC is warranted. JPC for Harshad Mehta scam was formed though it involved just a billion rs this one in thousand billions plus the credibility of sebi is also hampered!
This has been very very insightful, can it be safely concluded that certain systems from finance to investigation has been eroded ?
No national media is talking of an enquiry against SEBI chairperson 😂😂😂
It's clear to see that this government and its cronies have absolutely zero fear of the public or any kind of consequences.
She had three unique records by the way.
1. First woman chief
2. First person heading from the private sector.
3. Youngest SEBI chief.
It seems she doesn't want to stop at just 3 unique records 😅😅
Now she may have more unique records I guess.
She had three unique records by the way.
1. First woman chief
2. First person heading from the private sector.
3. Youngest SEBI chief.
It seems she doesn't want to stop at just 3 unique records
Now she may have more unique records I guess.😀😃
If she didn't disclose her links to the court which makes it a conflict of interest then there should be a perjury case registered against her. Will supreme court take suo motu?
Incredible!! Who in the Finance Ministry, which is under BJP control, is benefiting from this gross manipulation of markets? How will any outside finance entity ever put money in India?
Modi/Shah/BJP are acting as if they are untouchable. Are they?
If its a textbook example then its Deliberately done.
Sebi chief must resign to let fair prob happen
It's common man hard earned money is on the stake 💰
The Chairperson should set an example , first resign and pave the way for the impartial enquiry, prove her innocence without defending herself.
Ms. Sucheta Dalal dissected the information so well, it is apparent that no transparency is shown by the persons/ authorities in the matter.
No wonder why FIIs have been selling all year long.
Could be. The network at that level is beyond the undeestanding of the ordinary citizen.
Thank you Mr Thapar and Ms Dalal.
two very important points by sucheta
1. credibility is at stake
2. its going to be a cause of great concern in future if not addressed correctly.
respect to sucheta for not crossing the line to tell any individual as to what should they be doing.
JPC is required here to restore faith in JPCs and in the financial markets.
Madhabi ne SEBI ki puri buch mar dee. Always a pleasure listening to both Karan and Sucheta. Very well said about the Chairperson and the accountability of SEBI
Sebi: We don't owe you an answer. Do whatever you like.
If this SEBI chief was the market regulator in the US she would already have been in penitentiary for aiding insider trading or suppressing information from the earlier SIT constituted by the Supreme Court.
Rs 20,000 unacceptable is whose money, accountability required, it’s public money
Thanks!
What is the credibility of Hindenberg? Why should the regulators even entertain such a rubbish?
Madhavi - the puri butcher of market integrity
😂😂😂
Epic
its clear to see that we are living in a rigged system and that markets have been artificially inflated.
😂😂😂
Rare interview nailing the issue precisely.
Rather than just talking about how it 'should have been done', why are there no details about the actual allegations? Why isn't Hindenburg's allegation being investigated and facts stated?
Thanks for this interview.
Suchetha Dalal is 👑 in such matters.।
The number of points she raises are so obvious & astounding😅 although, it didn't occur to me when I read the sebi response in the din that came with it😮
It's now a fit case for a quick investigation in the matter😊
Kudos to Sucheta ji🎉
❤karan 's incessive interview with her!🎉
Hi, boss the share market and it's functioning is highly complicated. My simple question as layman is that when people are dieing with covid and at homes scared of covid and not able to even afford medical care, domestic durable ignored, how a company made huge increase in it's share value?
Sebi chief must resign immediately and submit herself to any form of credible independent investigation. Only then Truth will come to light and the guilty, if any, should be Confistigated of his or her wealth for playing with millions of middle class people's investment.
SEBI chairperson should step down...high time board should introspect if a private response is ok.
Thanks so.much to Karan & Sucheta for the excellent talk. What a tragedy that that t 7:12 he lady Madhavuy, the SEBI Head, has let the country down. Someone should give her some lessons on what is true Patriotism. She is such a shameless lady. What a cheat !
Excellent Karan . Salute to Suchita dalal
Good/sensitive interview.
👍👍👍
It is absolutely necessary for the SEBI to initiate independent enquiry under direct supervision of supreme court to instill confidence among investors.
They won't chuck out SEBI Chief. That will expose FM anf PM.
Hi When there is powerful support from The top to SEBI chief, there tends to be grounds for her to become complacent, and hence mistakes are made due to complacency,that she may never face situations like this. Its clear that SEBI is controlled by external political and or corporate powers
Thapar Saab, Politics itself is a cauldron of political deliberations, in the Indian context.
This tells us why the private business people should not head regulating bodies.
The post 2014 kangndependent India the defendants became their own investigators, judges and acquitters! SEBI chair is no exception!
Now, we don't have an elected government; rather it is a selected, chosen or donated gov!!! Those in power minus 89 fraudulent results = minority alliance is installed sidelining the winning alliance! What sort of "cracy" is this???Do we have some leadership who really care about our stature, integrity, trustworthiness, and future?!
Why hindenberg is kept out of reporting on american and selected europian entities by their govt if its so much credible....
Because they don't engage in such corruption. Indians are free to publish a similar report on US firms
@@arjunathesage7010 Very true, Adani could have sued Hindenberg in the US courts, but only because they had to disclose all with regard to their business they stopped short. Very suspicious!!
Adani is free to report on any American & Selected European entity to their Govt..... But then all countries don't have a corrupted leader!!
Hindenberg does report on corrupt practices in US companys too
I haven't watched this yet and hope to soon. One important point viewers must remember is that it is totally immaterial if the stock market moves up or down or if Adani stocks surge or crash immediately after this new report from Hindenburg. Market and specific stocks react to a plethora of news including macro economic and company specific.
More importantly, Madhabi Buch has NOT denied her or her husband's investments in the same Adani offshore funds that she held as a SEBI member or her husband held when she was SEBI chairperson and investigating these funds at the same time. This is practically an admission of huge conflict of interest which she never disclosed to the Supreme Court. She must step down immediately
⚠
Brilliant discussion
Definitely there should have been an independent enquiry by independent experts under the supervision of Hon'ble Court to unearth the realities behind Hindenburg Report and to make Indian Capital Market more stronger against such illegal activities which would have further lent the deserving credibility to it in the eye's of the investor's.
Thanks
So good interview.. you try to bring truth 👍
Karan Thapar's interview with Sucheta Dalal is really worth mentioning which focuses on the functioning of the market regulator SEBI in view of the specific and categorical allegations against its Chairperson by the whistleblower Hindenberg.
It further shows that there is a conspicuous silence on the specific allegations against the SEBI Chairperson by the market regulator's regulator (Govt) ..
It's common chan that all agencies have good relationship with companies... not need discussion.
Sucheta ma'am is very very generous in her choice of words and surprisingly Karan was as well. May be he has lost his mojo or he is also scared of libel suits. The fact of the matter is this reeks of corruption, insider trading, manipulation , money laundering, abuse of power all blessed by top govt. They have just thumbed thier finger again to us do what you will this is how we will manage things. When the judge sits on judgement in his own case the moral authority of the govt and as a nation cease to exist. We are complicit in this.
The question is not how to get good people to rule; THE QUESTION IS: HOW TO STOP THE POWERFUL from doing as much damage as they can to us. - Karl Popper
Madam, You said, when someone with a reasonable amount of credibility makes an allegation; what is Hindenberg's credibility?
A judge led public enquiry with quick report back
Supreme Court of India Presently Headed by Mr DY Chandrachud as CJI Need to Appreciate that, as an Indian, he also has a Constitutional Fundamental Duty to Curb Unprecedented Giant Financial Scams involving Trillions of Public Money.