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Kerala Kaumudi Online
Wednesday, 12 February 2025 2.08 PM IST

No lapse in investigation against Adani Group; SEBI chief, husband and Adani reject Hindenburg report

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NEW DELHI: SEBI chief Madhabi Puri Buch and her husband Dhaval Buch have dismissed the Hindenburg report alleging their involvement in Adani Group's controversial foreign investments. Adani also informed that there is no financial partnership with them. Meanwhile, the opposition, armed with allegations against the Adani Group which the central government shows interest in, demanded a joint parliamentary committee probe.
In a statement, Madhabi Buch and her husband denied the allegations in the report. "It is character assassination. The investment mentioned in the report was from the time I was working in Singapore before I came to SEBI. It was done through Dhawal's friend Anil Ahuja and has nothing to do with Adani Fund," she explained.
The Adani Group responded that the allegation was not true. "There is no business association with these persons. The allegations rejected by the Supreme Court are being reiterated."

Hindenburg revealed that the SEBI chief and her husband have investments in the Adani Group's paper companies in Bermuda and Mauritius. It is alleged that they invested Rs 83 crore in 2015 and this is why SEBI hesitated to take action on the first report that came out 18 months ago.

Opposition attack

Congress leader Jairam Ramesh said that the Supreme Court panel had pointed out the reluctance of SEBI to investigate the Adani scam. "SEBI probed 13 suspicious transactions to no avail. It is shocking that Madhabi Buch has investments in controversial funds. Why did she meet Gautam Adani twice after becoming SEBI chief in 2022?"
Jairam Ramesh also demanded that the investigation be left to a joint parliamentary committee to reveal the extent of the allegations.

P Santosh Kumar (CPI) said that SEBI chief Madhabi Buch should step down and this is an example of the credibility of independent agencies being questioned in the Modi regime.

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