Hindenburg raises ‘critical questions’ after SEBI chief Madhabi Puri Buch’s response

New Delhi: In the wake of allegations against SEBI Chairperson Madhabi Buch and her husband, Hindenburg Research has claimed that Buch’s response to their report contains significant admissions and raises new, critical questions. The controversy follows Hindenburg's August 10, 2024, report, which has sparked considerable political and economic turbulence in India.

On Sunday, Madhabi Puri Buch and her husband Dhaval Buch issued a statement addressing the allegations. The couple clarified that their investment in the fund mentioned in the Hindenburg report was made in 2015, before Madhabi Buch assumed her role at SEBI. They emphasised that the investment decision was influenced by Dhaval Buch's long-standing friendship with Chief Investment Officer Anil Ahuja, who boasts a distinguished career with Citibank, JP Morgan, and 3i Group plc.

The statement further refutes any claims of investment in Adani group companies, asserting that, according to Ahuja, the fund never held bonds, equities, or derivatives related to the Adani group.

Hindenburg's latest revelations have intensified scrutiny and debate, highlighting ongoing concerns about regulatory oversight and financial integrity.