Adani Group Responds to Hindenburg Allegations Amid SEBI Controversy

Hindenburg Research alleges SEBI's head, Madhabi Puri Buch, had stakes in offshore funds linked to Adani Group, a claim labeled 'baseless' by Buch. The Adani Group and Buch deny any wrongdoing, asserting transparency and compliance. Congress calls for a joint parliamentary investigation into the alleged 'Adani mega scam.'

Hindenburg Research has launched serious allegations against Madhabi Puri Buch, head of the Securities and Exchange Board of India (SEBI), suggesting that her reluctance to act against the Adani Group may stem from undisclosed stakes in offshore funds linked to the conglomerate. Buch has fiercely denied these allegations, calling them 'baseless.'

Both Madhabi Puri Buch and the Adani Group have issued statements rejecting Hindenburg’s claims. The Adani Group labeled the allegations as 'malicious, mischievous and manipulative,' while Buch and her husband emphasized their willingness to disclose financial documents to any relevant authority.

The controversy has prompted political reactions. Congress has demanded a joint parliamentary committee to investigate what it calls the 'Adani mega scam.' The situation continues to develop as various parties await SEBI’s official stance and further investigation results.