Hindenburg report LIVE updates: Research firm asks SEBI chief to reveal client list for offshore firms
Hindenburg report LIVE updates: A 2024 report has implicated SEBI chairperson Madhabi Puri Buch in allegedly investing in offshore firms run by the Adani group (PTI)
Hindenburg report LIVE updates: In a late-night series of posts on X on Sunday, Hindenburg Research claimed that the joint statement by SEBI chief Madhabi Buch and her husband Dhaval Buch, brought up more questions that needed to be clarified. The research firm asked Buch to reveal a client list of all those consulting with her on her offshore investments to match whether they are related to the firms that SEBI is supposed to be regulating.…Read More
In the post they also claimed Buch confirmed the firm’s allegation, in her response, that the offshore fund was run by her husband Dhaval Buch’s childhood friend, a director in the Adani Group, which was a major conflict of interest.
On August 10, Hindenburg Research, a US short seller and financial investigation firm, released a report titled – ‘Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandal’.
The report followed up on their 2023 allegations against the Adani group for financial misconduct and stock price manipulation. In their 2024 report, they claimed that SEBI chief Madhabi Buch and her husband had made investments in offshore funds which were controlled by Gautam Adani’s brother Vinod Adani.
These same offshore firms had been accused of being central to the Adani group’s financial fraud.
SEBI chairperson Madhabi Buch issued a response, stating that the claims by Hindenburg were baseless and that her financial records were an open book.
