Lokpal Clears Former SEBI Chief in Hindenburg Allegations

The Lokpal dismissed allegations against former SEBI chief Madhabi Puri Buch, rooted in a report by Hindenburg Research. The claims of impropriety were deemed unsubstantiated and stemming from presumptive evidence. The allegations targeted her alleged offshore fund stakes linked to an Adani Group scandal, but were found baseless.

The anti-corruption ombudsman, Lokpal, has exonerated former SEBI chief Madhabi Puri Buch from allegations tied to a report by Hindenburg Research. The charges, including those by TMC MP Mahua Moitra, were described as presumptive and lacking verifiable evidence.

The complaints suggested that Buch held stakes in offshore funds involved in money siphoning related to the Adani Group. Both Buch and the Adani Group refuted these allegations, labeling them an attack on credibility. The Lokpal concluded that the claims were unsubstantiated and dismissed them.

The comprehensive order also criticized complainants for sensationalizing the issue. Despite the case's contentious nature, it was determined that the allegations could not sustain an investigative directive, leading to their formal disposal by the Lokpal bench.

(With inputs from agencies.)