TMC MP files 2nd complaint over stock fiddling

June 11, 2024 16:07

TMC MP Saket Gokhale said on Tuesday that he has filed a complaint with the Securities and Exchange Board of India (SEBI) alleging "stock market manipulation", and demanded an investigation into statements by senior BJP leaders "asking people to invest in stocks, hinting at election results". Gokhale stated that this matter would be taken up in Parliament if necessary, as there was "something very rotten about stock market fluctuations" on June 3 and June 4 after rigged exit polls".

The BJP has dismissed the allegations as "baseless" and "an attempt to gain media attention".

"I have filed a new second complaint with SEBI regarding stock market manipulation, specifically demanding an investigation into statements made by Prime Minister Narendra Modi and Home Minister Amit Shah asking people to invest in stocks, hinting at election results. These statements by Modi & Shah constitute illegal investment advice under the SEBI (Investment Advisers) Regulations, 2013," he posted on X.

Gokhale also said, "Further, I have also asked SEBI to investigate whether any entities linked to Modi, Shah, or BJP made substantial gains/profits during the stock market volatility on June 3 and June 4", the day Lok Sabha election results were declared. The TMC MP also claimed that "Indian investors are reported to have lost over Rs 30 lakh crore on the back of statements made by Modi and Shah as well as due to rigged exit polls. PM Modi and BJP do not run a brute-majority government anymore. Along with SEBI action, this matter will also be taken up in Parliament if required."

West Bengal BJP leader Shishir Bajoria has dismissed the allegations as "baseless" and said markets go up and down by its own dynamics. "It is a democratic country, anybody can complain. But it seems Saket Gokhale is trying to become popular with his own leader Mamata Banerjee, who has termed the government as undemocratic and unconstitutional. Markets go up and down by its own dynamics and election results are also dynamics," he added. PTI

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