TMC, NCP (SP), Shiv Sena (UBT) demand probe into stock market manipulation post exit polls

It may be mentioned Rahul Gandhi alleged the direct involvement of Prime Minister Narendra Modi and Union Home Minister Amit Shah into the alleged scam - a charge which was dismissed as baseless by the BJP.

Mumbai: Days after the Congress-led I.N.D.I.A opposition alleged stock market manipulation post the exit polls, a delegation of All India Trinamool Congress, Shiv Sena (UBT) and NCP (SP), met officials of SEBI and demanded a thorough probe. 

The delegation included TMC’s Kalyan Banerjee, who is the chief whip of the party in Lok Sabha, Sagarika Ghose, deputy leader in Rajya Sabha and Saket Gokhale, a Rajya Sabha MP,  Arvind Sawant, Shiv Sena (UBT) MP and Vidya Chavan, NCP (SP) MLC.

It may be mentioned Congress MP Rahul Gandhi alleged the direct involvement of Prime Minister Narendra Modi and Union Home Minister Amit Shah into the alleged scam - a charge which was dismissed  as baseless by the BJP. 

“SEBI had a glorious role in the past. We have confidence in SEBI which is why we are seeking an investigation into the manipulation of the stock market by the reason of misleading exit polls for the Lok Sabha elections 2024,”Banerjee said, adding that they had also probed whether exit poll agencies have any connection with political leaders.

"We demand that a fair investigation should be conducted by SEBI without being influenced by the newly elected Union Government headed by the Prime Minister Narendra Modi, to instill confidence amongst the people at large.

"The demand of a fair investigation by the political parties is also an integral part of democracy. More so, when the results of the elections can be manipulated and share market scam may be made because of the ruling party’s dictum. We expect you will take immediate steps in the matter,” they said in a memorandum to SEBI Chairperson Madhabi Puri Buch.

They said that it has been seen that some prominent politicians who are part of the new NDA government, their spouses, and families have made massive profits after shares of the listed companies in which they are stakeholders spiked heavily on the back of exit polls. 

“It is pertinent to investigate whether these politicians and their families had any links or connections with the exit poll agencies and whether they actively connived in putting out misleading exit poll numbers which would unjustly benefit the stocks of the companies in which they are shareholders,” the delegation said.