The chairman of the Securities and Exchange Board of India (SEBI) and her husband firmly reject the claims made in the latest report by short-selling firm Hindenburg Research, describing them as "baseless allegations and insinuations." The SEBI chief also stated that they are willing to disclose any financial documents if requested by the authorities. Hindenburg Research, against whom SEBI has taken enforcement action, has been accused of attempting character assassination in response to the action taken against them.
In a scathing response on social media, former Union Minister Rajeev Chandrasekhar has called the recent Hindenburg report "not credible" and a clear partnership between a foreign bank and the Congress party. He argues that the report aims to discredit India's strong financial system and create chaos in the world's fastest-growing economy. Chandrasekhar also highlights the reforms made in the financial sector by Prime Minister Narendra Modi in the past 10 years and warns against global forces attempting to slow down India's growth.
A new report from US-based short-seller Hindenburg Research has claimed that SEBI's current chairperson, Madhabi Puri Buch, and her husband have hidden stakes in offshore entities used in the 'Adani money siphoning scandal'. This could potentially be a conflict of interest for Buch, who is responsible for investigating the Adani Group's activities. The report also notes that Adani's close relationship with SEBI could explain the lack of regulatory intervention in their operations.