SEBI Chairperson Rejects Hindenburg Research Allegations

SEBI Chairperson Madhabi Buch and her husband denied allegations by Hindenburg Research, claiming they had stakes in offshore entities linked to the Adani scandal. In a joint statement, they refuted these allegations, calling them baseless and promising full financial transparency. The Buchs plan to release a detailed statement soon.

SEBI Chairperson Madhabi Buch and her husband have strongly denied recent allegations by Hindenburg Research that they held stakes in opaque offshore entities involved in the Adani money siphoning scandal. The Buchs released a joint statement firmly rejecting the claims and accusing Hindenburg of character assassination.

In their statement, the couple emphasized, "We strongly deny the baseless allegations and insinuations made in the report. Our life and finances are an open book, and all required disclosures have been made to SEBI over the years. We are willing to provide any financial documents to any authority that seeks them." They also noted that Hindenburg has previously faced enforcement action from SEBI.

Hindenburg Research, in their August 10 report, alleged that the Buchs had hidden stakes in offshore funds linked to the Adani Group. The report cited whistleblower documents and additional investigations. Hindenburg had previously accused Adani of financial irregularities, leading to significant losses for the conglomerate. The Adani Group has consistently denied these accusations.