Hindenburg New Report: The US short seller firm Hindenburg Research has published a new report which reportedly claims that the whistleblower documents show Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch had a stake in the obscure offshore entities used in the "Adani money siphoning scandal". However, SEBI Chief Madhabi Puri Buch and her husband Dhaval Buch have firmly denied recent allegations made by Hindenburg Research.
Amid this explosive Hindenburg report, is the stock market about to experience another major upheaval? Once again, there is tension and an atmosphere of concern among investors. This has also created a sense of fear in the investors' minds as the stock market prepares to open tomorrow, August 12. (Also Read: Hindenburg's New Report: Who Is Dhaval Buch, the SEBI Chief's Husband, Allegedly Linked To Adani Money Siphoning Scandal?)
What Are Claims In Hindenburg's New Report?
-SEBI Chairperson's connection to the Adani money siphoning scandal.
-The connection between Madhabi Buch and her husband Dhaval Buch with the Adani Group.
- Madhabi Puri Buch and her husband's stake in offshore entities.
-The money was used in the siphoning scandal.
-Claims based on whistleblower documents.
-Despite the seriousness, SEBI did not take strict action against the Adani Group.
Hindenburg Research Questions SEBI Chairperson's Ties to Adani Group
The Hindenburg report states that SEBI Chairperson Madhabi Puri Buch is also in collusion with the Adani Group. This is the reason why she did not take action against the Adani Group even after 18 months.
Hindenburg Research has announced these shocking claims on the social media platform X. This report also allegedly raised questions about the relationship between the SEBI Chairperson and the Adani Group.
What Is In Hindenburg's Research?
This firm was founded by researcher Nathan Anderson and specializes in forensic financial research. It conducts in-depth investigations and analyses of accounting irregularities, unethical business practices, and undisclosed financial issues or transactions. A key aspect of their approach is short selling, where they release reports on companies, anticipating a decline in market prices based on their findings
Hindenburg: SEBI Chairperson's Stake In Adani-linked Offshore Entities
According to Hindenburg’s report, the SEBI Chairperson had a stake in the offshore entities used in the Adani scandal. From April 2017 to March 2022, Madhabi Puri Buch served as a whole-time member and held the position of Chairperson of SEBI. She held a 99% stake in a consulting firm named Agora Partners in Singapore. Hindenburg’s report claims that questions were raised about the company’s income, but no action was taken.
