‘An attempted character assassination, ready to disclose document to any agency’, SEBI chairperson rejects Hindenburg

MUMBAI: SEBI Chairperson Madhabi Puri Buch came forward denying the allegations raised by Hindenburg. Madhabi Puri Buch and her husband Dhaval Buch called it an attempted character assassination. Madhabi said that all investments have been reported to SEBI. Madhabi Buch and her husband said in a joint statement that they are ready to provide the documents to any agency and that the present allegation is in retaliation for issuing a show-cause notice to Hindenburg.

Hindenburg's allegation that SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch have shares in shadow companies linked to the Adani Group came out yesterday. Hindenburg Research, which tweeted yesterday at 5.34 am on X that something big is coming soon India, the suspense was released late night. The Hindenburg report also targeted Adani Group in January 2023. In that report, Adani Group was accused of irregularities in the stock market. This new allegation is being investigated by SEBI as per the instructions of the Supreme Court. The Hindenburg report also said that this relationship was behind SEBI's delay in investigating Adani.

Hindenburg's disclosure against Adani had caused a stir in the country. It was revealed that the Adani Group had manipulated the stock market. On January 24, 2023, the Hindenburg Research report came out with huge revelations against the Adani Group. The report released last year stated that Adani has made huge profits by inflating its shares, and through that, it is organizing more loans. This allegation caused a huge blow to the Adani Group. While recovering from it, Hindenburg came back with a new charge.

US company
Hindenburg Research is an American investment research firm. The founder is financial expert Nathan Anderson. The practice is to publish reports on the website that expose corporate frauds and official lapses. The report has been published against Adani Group, US auto giant Nicola Corporation and US online betting firm DraftKings.