Hindenburg-Adani case LIVE updates: In its latest report, the US-based short-seller has alleged that SEBI Chairman Madhabi Puri Buch held stakes in shadowy offshore entities used in the Adani “money siphoning scandal.” On Saturday, Hindenburg Research had published a cryptic message hinting at a possible new India-focused report.
“The current SEBI chairperson and her husband, Dhaval Buch, had hidden stakes in exactly the same offshore black funds in Bermuda and Mauritius, which are in the same complex nested structure, used by Vinod Adani,” reads the report published on August 10 by Hindenburg Research.
We have contacted SEBI for a response on Hindenburg Research’s latest report. The story will be updated once we receive the response.
The Hindenburg research group’s indictment comes more than a year after it published allegations against the Adani group of companies for insider trading and other securities market violations.
In January 2023, Hindenburg Research published a report accusing the Adani Group of financial irregularities, leading to a drastic fall in the company’s share prices. The Adani Group has repeatedly dismissed these allegations.
The Hindenburg report alleged stock manipulation and fraud by the conglomerate, alleging that Adani had artificially inflated its share price. The revelations led to a significant drop in the stock values of several Adani Group companies, with losses exceeding $100 billion.
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Aug 10, 2024, 11:09:53 pm IST
Hindenburg-Adani case LIVE updates:
Hindenburg-Adani case LIVE updates: ‘SEBI chairman had involvement in shady offshore funds,’ Hindenburg alleges
Hindenburg-Adani Case LIVE Updates: The Hindenburg report released on August 10 claimed that SEBI chairperson Madhabi Puri Buch and her husband held stakes in both the offshore shadow funds used in the ‘Adani money siphoning scandal’
“The current SEBI chairperson and her husband, Dhaval Buch, had hidden stakes in the same Bermuda and Mauritius offshore funds, which are in the same complex nested structure used by Vinod Adani,” the Hindenburg report said.
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