Hindenburg's Allegations Against SEBI Chief: The Adani Connection

Hindenburg Research has accused SEBI's head Madhabi Puri Buch and her husband of having stakes in offshore funds linked to the Adani Group, a charge both deny. The alleged links go back to 2015, before Buch's SEBI appointment. The controversy has reignited demands for a thorough investigation into the Adani Group.

Hindenburg Research has brought forth accusations against Madhabi Puri Buch, the current head of SEBI, alleging she and her husband had investments in offshore funds tied to the Adani Group. Buch and her husband have labeled these allegations as 'baseless' and an attempt at 'character assassination.'

These investments reportedly trace back to 2015, well before Buch's tenure at SEBI began in 2017 and her promotion to chairperson in 2022. However, the allegations have rekindled debates over the legitimacy of SEBI's investigation into the Adani Group.

Political reactions to this development have been swift, with the Congress demanding a joint parliamentary committee probe and the Trinamool Congress calling for Buch's resignation. Meanwhile, SEBI's investigations into Adani's shareholding structure and offshore entities remain under scrutiny.

(With inputs from agencies.)