SEBI Chairperson Madhabi Puri Buch has strongly refuted allegations made by Hindenburg Research, which claimed that she and her husband, Dhaval Buch, have undisclosed stakes in an offshore company linked to the Adani Group.
Hindenburg Research, known for its investigative reports, alleged on Saturday that the Buchs held shares in the Mauritius-based Global Dynamic Opportunities Fund, which the firm claims is connected to the Adani Group. Hindenburg further accused Vinod Adani, brother of Adani Group Chairman Gautam Adani, of investing billions of dollars in the fund to manipulate the stock prices of Adani companies.
In response, Puri Buch dismissed the allegations as “baseless” and described them as an attempt at “character assassination.” She expressed her willingness to make all financial records public, stating in a joint declaration with her husband, “Our financial matters are an open book.”
The allegations follow a series of reports by Hindenburg Research, which last year accused the Adani Group of financial misconduct, leading to significant scrutiny of the conglomerate. Despite these claims, Puri Buch reiterated her stance, categorically denying any involvement or wrongdoing.