Hindenburg doing character assassination in response to Sebi notice, says Madhabi Buch, denies allegation
Hindenburg Research as “baseless ”, Sebi chief Madhabi Puri Buch and her husband Dhaval Buch today said the US-based short-seller is resorting to character assasination in response to a show-cause notice issued by the regulator in the Adani controversy.
“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,” the husband-wife duo said in a late night statement.
Earlier on Saturday night, Hindenburg published a report on its website claiming that the Buchs had stakes in Bermuda and Mauritius-based offshore funds used by Gautam Adani's brother Vinod Adani “to amass and trade large positions in shares of the Adani Group”.
“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,” the Buchs said in the statement.
Hindenburg claims Sebi chief Madhabi Buch had stake in offshore entities linked to Adani
The family said all disclosures as required have already been furnished to SEBI over the years and that they have no hesitation in disclosing any and all financial documents, including those that relate to the period when they were strictly private citizens, to any and every authority that may seek them.
“Further, in the interest of complete
