"The Transparency Saga: SEBI Chief vs. Hindenburg"

SEBI Chief and Spouse Refute Hindenburg Report Allegations: 'Our Finances Are Transparent'

Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), and her husband, Dhaval Buch, have firmly denied allegations brought against them by Hindenburg Research, a US-based investment firm known for its critical reports.

Hindenburg Research recently published claims suggesting that Madhabi Puri Buch and her husband held stakes in offshore entities allegedly tied to the Adani Group's financial irregularities. The report, citing "whistleblower documents," alleged that these offshore entities were part of a broader network used by Vinod Adani, the elder brother of Gautam Adani, to "siphon money." The report also questioned SEBI's impartiality in its ongoing investigation into the Adani Group, citing potential conflicts of interest.

In response, the Buchs issued a statement categorically rejecting these allegations. "The accusations made in the Hindenburg Report dated August 10, 2024, are entirely baseless and unfounded," they stated, according to PTI. "Our finances are fully transparent, and we have consistently provided all required disclosures to SEBI over the years."

The couple emphasized their willingness to disclose any financial documents, including those from their time as private citizens, to any relevant authority. "In the interest of complete transparency, we will issue a detailed statement in due course," they added, as reported by PTI.