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Hindenburg-Adani Case Live: The research firm suggested that this transparency would clarify whether there are any connections between these clients and the entities SEBI is responsible for regulating. Hindenburg also claimed that Buch’s response confirmed one of their allegations: that an offshore fund associated with Buch was managed by her husband Dhaval Buch’s childhood friend, who is also a director in the Adani Group. This, according to Hindenburg, represents a significant conflict of interest.
12 Aug 2024, 09:04:17 AM IST
Hindenburg-Adani Case Live: SEBI chairperson Madhabi Buch denies allegation
In response, SEBI chairperson Madhabi Buch denied the allegations, stating that Hindenburg’s claims were baseless and that her financial records were fully transparent.
The Adani Group also responded to the Hindenburg report, describing it as a “malicious, mischievous, and manipulative selection of publicly available information.” They asserted that the claims had already been discredited by the Supreme Court and accused Hindenburg of being a “discredited short-seller” attempting to deflect attention from its own violations of Indian securities laws.
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