SEBI chief Madhabi Buch says new Hindenburg report baseless: Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and her husband Dhaval Buch on Saturday termed the allegations levelled against them by US-based forensic financial research company Hindenburg as baseless. The Buch couple said that their financial transactions are like an open book. They said in a statement that it is unfortunate that Hindenburg Research, against which SEBI has taken enforcement action and issued a show cause notice, has chosen to try to assassinate the character in response.
Hindenburg has made these allegations against SEBI Chief and her husband
Hindenburg has alleged that SEBI chairperson Buch and her husband had stakes in the shadowy offshore fund used in the alleged Adani money laundering scam. “SEBI has shown a surprising lack of interest in Adani’s alleged undisclosed web of Mauritius and offshore shell entities,” Hindenburg alleged in a blogpost 18 months after its last report on the Adani Group. Short-seller Hindenburg has cited “whistleblower documents” that exposed the matter and said that SEBI’s current chief Madhabi Buch and her husband Dhaval Buch had stakes in both the shadowy offshore funds used in the Adani money laundering scam.
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The Butch coupleHindenburg report termed baseless
Reacting to the allegations, the Buch couple said in their statement, “With reference to Hindberg’s report dated August 10, 2024, we would like to state that we strongly deny all the baseless allegations and insinuations leveled against us in the report.” They said, “There is no truth in these allegations. Our life and financial transactions are like an open book. All the necessary financial records have already been made available to SEBI over the years.” The Buch couple said that they have no objection in presenting any of their financial documents before any authority, including those documents which belong to the period when they were private citizens. They said, “Furthermore, in the interest of complete transparency, we will issue a detailed statement at the appropriate time.”
