SEBI CHAIRPERSON MADHABI BUCH, HUSBAND DENY HINDENBURG ALLEGATIONS

Shortly after US-based short seller Hindenburg Research on August 10 alleged that SEBI Chairperson Madhabi Buch and her husband had stakes in “both the obscure offshore entities used in the Adani money siphoning scandal,” the SEBI Chairperson and her husband issued a joint statement rejecting the allegations.

Madhabi Puri Buch and her husband accused Hindenburg Research, against whom SEBI has taken enforcement action, of character assassination.

In the joint statement released to the media they said, “In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book.

All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course.”