Hindenburg Again Targets SEBI Chief, Regulator and Adani Group Deny Allegations
New Delhi, August 12 (Udaipur Kiran): American research and investment firm Hindenburg Research has once again targeted the chairperson of the Securities and Exchange Board of India (SEBI). Hindenburg claimed that SEBI Chairperson Madhabi Puri Buch, in her response to their report, admitted to several points, raising new questions.
In a statement on the social media platform X, Hindenburg wrote that Buch’s response confirms the involvement of Vinod Adani in investments in a Bermuda/Mauritius fund, along with the alleged embezzlement of funds. She also confirmed that the fund was managed by her husband’s childhood friend, who was a director at Adani during that time.
Hindenburg further stated that SEBI was tasked with investigating investment funds related to the Adani case, in which Madhabi Puri Buch allegedly had an investment. This, they claim, is a significant conflict of interest. Earlier, following Hindenburg’s allegations, statements from SEBI Chief Buch and her husband had surfaced, denying the allegations as baseless. The Adani Group also rejected the claims, stating that they have no business relations with the SEBI chief.
Notably, in a new report released late Saturday night, Hindenburg Research had claimed that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch opened an account in IPE-Plus Fund-1 in Mauritius on June 5, 2015, which was allegedly involved in fund siphoning. Hindenburg also accused them of holding a stake in an offshore company linked to the Adani Group. However, SEBI, Madhabi Puri Buch, her husband, and the Adani Group have all strongly denied these allegations.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.