Controversy Erupts Over SEBI Chief Amid Hindenburg Allegations

The US-based short seller Hindenburg Research accused SEBI chief Madhabi Buch of being involved in offshore funds tied to the Adani scandal. Opposition parties have called for her removal and a joint parliamentary probe. Buch and her husband deny the allegations, claiming Hindenburg is discrediting SEBI.

Allegations from US-based short seller Hindenburg Research against SEBI chief Madhabi Buch sparked a political row on Sunday, with opposition parties demanding her resignation and a joint parliamentary probe. The ruling BJP accused these parties of conspiring to cause financial instability in India.

On Saturday, Hindenburg claimed that Buch and her husband had stakes in offshore funds linked to the Adani money siphoning scandal, prompting opposition parties to urge the Supreme Court to intervene.

Madhabi and her husband denied the accusations, alleging that Hindenburg is undermining SEBI's credibility. SEBI and the Adani Group termed the allegations as manipulative and malicious.