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August 11, 2024 7:10 AM

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Hindenburg Research firm alleges SEBI Chairperson Madhabi Puri Buch & spouse Dhaval Buch owned stakes in offshore entities linked to Adani Group

Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband Dhaval Buch have denied allegations against them by short-seller Hindenburg Research in its latest report. Hindenburg Research, a US-based investment research firm, has alleged that Madhabi Puri Buch and Dhaval Buch owned stakes in offshore entities linked to the Adani Group. In a statement, Buchs said that the allegations are untrue and that their life and finances are an open book. They said, all disclosures as required have already been furnished to SEBI over the years. SEBI Chief and her husband said, they have no hesitation in disclosing any financial documents, including those that relate to the period when they were strictly private citizens to any and every authority that may seek them. The alleged investments reportedly date back to 2015, well before Madhabi Buch’s appointment as a full-time member of SEBI in 2017 and her elevation to SEBI chairperson in March 2022.