Sebi Defends Adani Probe Amid Hindenburg Allegations

The Securities and Exchange Board of India (Sebi) has defended its investigation into allegations against the Adani Group, highlighting Chairperson Madhabi Puri Buch's transparency and recusal in conflict-related matters. Sebi stated most probes are complete and refuted claims linking Buch and her husband to conflicts of interest.

The Securities and Exchange Board of India (Sebi) affirmed its thorough investigation of the allegations against the Adani Group brought forth by Hindenburg Research. Sebi emphasized Chairperson Madhabi Puri Buch's consistent disclosures and her recusal in matters where conflicts of interest might exist.

In its first comments post a new report by Hindenburg, Sebi disclosed that only one of the 26 aspects under investigation remains outstanding and is close to completion. The regulator rejected accusations concerning Buch and her husband's investments in offshore funds related to the Adani conglomerate.

Sebi reiterated that it issued over 100 summons and reviewed approximately 12,000 pages of documents throughout its investigation. The Supreme Court had noted the substantial completion of these probes. Sebi also assured investors of its adherence to the principles of natural justice and its robust regulatory framework.