New Delhi, August 11 (Udaipur Kiran): After the release of a new report by American research and investment firm Hindenburg Research, the Securities and Exchange Board of India (SEBI) responded on Sunday. In its first comment, SEBI stated that it has thoroughly investigated all allegations against the Adani Group. SEBI Chief Madhabi Puri Buch also addressed the accusations, stating that the fund mentioned by Hindenburg was acquired in 2015, long before she joined SEBI.
SEBI Chief Madhabi Puri Buch, along with her husband Dhaval Buch, issued a statement denying Hindenburg’s allegations. They clarified that the investment mentioned was made almost two years before she became part of SEBI. SEBI further stated that Buch has consistently provided relevant information and has recused herself from cases involving potential conflicts of interest.
SEBI accused Hindenburg of choosing to attack the credibility of the regulator and the character of its chief instead of responding to the show-cause notices issued in various cases in India. The Adani Group also dismissed Hindenburg’s claims that SEBI Chief Buch holds a stake in Adani’s offshore funds.
It’s worth noting that Hindenburg Research’s new report, released late Saturday night, claimed that SEBI Chief Madhabi Puri Buch and her husband Dhaval Buch opened an account in Mauritius-based IPE-Plus Fund-1 on June 5, 2015, which was allegedly involved in fund siphoning. Hindenburg also accused them of holding stakes in an offshore company linked to the Adani Group.
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.
