Hindenburg Questions SEBI Chairperson's Admissions Amid Adani Controversy

Hindenburg Research has raised new questions for SEBI Chairperson Madhabi Puri Buch following her and her husband’s statements about their involvement in a Bermuda/Mauritius fund linked to the Adani Group. The allegations point to potential conflicts of interest and undisclosed financial activities during her tenure at SEBI.

Hindenburg Research has escalated the scrutiny surrounding SEBI Chairperson Madhabi Puri Buch, citing significant admissions in her recent responses to allegations. According to Hindenburg's social media post, Buch’s statement raises several new critical questions about her financial conduct.

Hindenburg’s post highlighted that Buch's investment in a Bermuda/Mauritius fund structure coincided with funds allegedly misappropriated by Vinod Adani. The short seller argued this created a substantial conflict of interest, given SEBI's role in investigating Adani-linked funds, including those Buch was directly involved with.

Further suspicions were raised concerning the financial transparency of Buch's Singaporean consulting firm, which reportedly earned significant revenue while she was SEBI Chairperson. Additionally, Hindenburg accused Buch of using her personal email for official business under her husband’s name. However, Buch clarified that the investment in question occurred before her SEBI tenure and was based on trust in a longtime friend’s investment acumen.