In a statement shared just after the short-seller filed its latest report, Buchs called the allegations “baseless.”
US-based short-seller Hindenburg Research is trying to attack the credibility of Sebi and is committing character assassinations against its chairman, Sebi chief Madhabi Puri Buch and her husband Dhaval said on Sunday.
In a detailed statement issued on Sunday evening in response to the allegations made by Hindenburg, the Buchs said their investment in a fund promoted by IIFL Wealth Management was as private citizens based in Singapore and was made two years before Madhabi joined Sebi as a full-time member.
They said Dhaval, a senior adviser at Blackstone since 2019, is not associated with the major private equity firm’s real estate sector.
The statement also said Madhabi’s two consultancy firms immediately became “dormant” after his appointment to Sebi in 2017 as a full-time member.
“Hindenburg has received a notice that a suit should be filed against it for a number of violations in India. It is unfortunate that instead of responding to the notice, they have chosen to attack the credibility of SEBI and attempt to defame the SEBI Chairman,” the statement said.
In a statement shared just after the short-seller filed its latest report, Buchs called the allegations “baseless.”
Hindenburg Research said it suspects SEBI’s unwillingness to act against the Adani group may be due to Madhabi Buch holding stakes in offshore funds linked to the conglomerate.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 11, 2024 | 17:44 IS
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