Mumbai: Madhabi Puri Buch, chairperson, Securities and Exchange Board of India (Sebi), categorically rejected the Hindenburg Research report that has alleged that Bush and her husband had stakes in obscure offshore funds used in Adani money siphoning. The stock market regulator termed the report as “baseless allegations and insinuations”.
Madhabi Puri Buch and her husband Dhaval Buch said the allegations levelled by the US-based short-seller is an “character assassination” attempt.
It may be noted that Sebi in July 2024 had raised the issue of a violation by Hindenburg and its sole beneficial owner Nathan Anderson under the SEBI Act, SEBI’s Prevention of Fraudulent and Unfair Trade Practices regulations, and SEBI’s Code of Conduct for Research Analyst regulations.
The SEBI chief said they are ready to submit any financial document if sought by authorities.
Madhabi Puri Buch and her husband’s full statement:
“In the context of allegations made in the Hindenburg Report dated August 10,2024 against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course.
It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same.”
Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch and her husband Dhaval Buch said the Hindenburg Report is an “attempt to character assassination”. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
