In an explosive press conference, Maharashtra Congress Committee President Nana Patole accused the Eknath Shinde-led Mahayuti government of mortgaging the state to Gujarat. He also alleged that prime plots were being sold to Adani at throwaway prices, while the entire country was being auctioned off by the ruling BJP government. Patole asserted that the Congress party's priority was to protect the pride and save Maharashtra, as he discussed the recent Hindenburg Research allegations against the Sebi Chairperson Madhabi Puri Buch and their alleged nexus with Adani and Prime Minister Narendra Modi.
In a press conference at the BJP headquarters, senior leader Ravi Shankar Prasad rejected the Opposition's demand for a Joint Parliamentary Committee probe into the allegations against Sebi chairperson Madhabi Puri Buch. Prasad accused the Congress, Hindenburg Research, and the "toolkit gang" of being part of a conspiracy to damage India's stock market and investments. He also alleged that the main investor behind Hindenburg Research was "India hater" George Soros. Prasad's remarks come a day after the BJP accused the Congress of colluding with foreign forces to destabilise the Indian economy.
The BJP held a press conference at their headquarters to address the Congress's demand for a Joint Parliamentary Committee probe into the allegations made by Hindenburg Research against SEBI Chairperson Madhabi Puri Buch and Adani Group. Senior party leader Ravi Shankar Prasad slammed the Congress for seeking foreign help and trying to create chaos in the country. Meanwhile, the Ministry of Finance has stated that it has nothing further to add after SEBI and Buch have issued their statements. However, BJP leaders admit that it would be better if Buch steps down immediately in light of the serious allegations.
The BJP has accused the Congress of seeking foreign help to discredit the SEBI chief and destabilize India's financial markets. This comes after US-based Hindenburg Research made allegations against SEBI Chairperson Madhabi Puri Buch. While the BJP calls for Buch's resignation, the party also questions the Congress' motives and accuses them of playing a role in damaging India's credibility.
The chairperson of India's Securities and Exchange Board (SEBI), Madhabi Puri Buch, and her husband have been accused by US short-seller Hindenburg Research of investing in offshore entities connected to a fund managed by India Infoline and in which Vinod Adani, brother of Gautam Adani, also held investments. The Adani Group denied any commercial relationship with Buch or her husband, dismissing the claims as malicious. Buch, who has over three decades of experience in finance, took over as SEBI's first female chief in 2022 and has a history of cracking down on fraudulent trading and passing controversial orders. She is also a graduate of Delhi University and IIM Ahmedabad and has held top positions at ICICI Securities Limited and ICICI Bank.
Hindenburg Research, a US short seller, fired back at the Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch and her husband Dhaval Buch over their denial of allegations made against them and the Adani Group. The research firm pointed out a conflict of interest as Buch admitted to investing in an offshore fund operated by her husband's childhood friend who was also an Adani Group director. Meanwhile, the opposition has called for Buch's resignation and a Joint Parliamentary Committee (JPC) investigation into the matter.
The Securities and Exchange Board of India (SEBI) has refuted the allegations made by US-based short-seller Hindenburg Research on going slow on its investigations against the Adani Group. The market regulator has completed all but one of the investigations into the group, finding no evidence of wrongdoing. SEBI also defended its chairperson, Madhabi Puri Buch, who was alleged to have undisclosed investments in offshore funds related to the Adani Group. Buch and her husband have strongly denied the allegations, stating that their investments were made before her appointment as the chairperson and without any involvement with Adani Group shares. The investments were made on the advice of a childhood friend of Buch's husband.
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 response to allegations made by US-based short seller Hindenburg Research, the Securities and Exchange Board of India (SEBI) has released separate statements claiming that investigations into the Adani Group are ongoing. Despite Hindenburg's claims, SEBI has completed 23 out of 24 investigations into the group and is nearing completion on the final one. The regulator has also revealed that a significant amount of evidence has been gathered through communication with domestic and foreign agencies. Hindenburg had accused SEBI's chairperson's husband, while he was a senior advisor at Blackstone, of facilitating approval for Blackstone-sponsored real estate investment trusts to go public.
US-based short seller Hindenburg Research has alleged that SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch have financial ties to the Adani group, leading to suspicion of SEBI's unwillingness to act against the conglomerate. However, the Buchs have categorically denied these allegations in a 15-point statement, citing their investment in a fund two years before Madhabi joined SEBI and Dhaval's separate work at Blackstone. Hindenburg has been served a show cause notice for violations in India, but has chosen to attack SEBI's credibility instead of replying.