Lokpal Clears Ex-SEBI Chief of Corruption Allegations, Dismisses Complaints

The Lokpal of India has dismissed corruption allegations against former SEBI Chairperson Madhabi Puri Buch, citing them as politically motivated. Claims of undue advantage involving the Adani Group were found baseless. The Lokpal also criticized the reliability of the Hindenburg Report, terming it as partisan and unreliable.

The Lokpal of India has officially dismissed all corruption allegations against former SEBI Chairperson Madhabi Puri Buch. The complaints were described as 'vexatious' and 'politically motivated,' aiming to divert attention from regulatory issues, especially those involving the Adani Group.

According to the Lokpal's findings, no credible evidence was found suggesting any 'undue advantage' or 'quid pro quo.' The investigation into SEBI's proceedings, including those related to Adani, was supported by the Supreme Court, reinforcing the credibility of independent institutional mechanisms.

The Lokpal also challenged the reliability of the Hindenburg Report, identifying it as an unreliable document by a known short-seller. This report had accused Buch and her husband of inappropriate financial stakes, allegations they have outrightly denied as 'false and malicious.'

(With inputs from agencies.)