AMFI says Hindenburg’s allegations against Buch an attempt to create a hurdle in India’s growth

The Association of Mutual Funds in India has said the Hindenburg Research allegations against the capital market regulator Chairperson Madhabi Puri Buch is an attempt to create a hurdle in India’s endeavour to becoming a developed economy.

• Also read: Hindenburg attacking SEBI’s credibility, indulging in character assassination of its chief: Buchs

Investors and partners must rest assured that India’s financial system is secure, transparent and designed to foster growth and innovation with high integrity driven right from the top of the institution, said AMFI in a statement on Sunday.

The allegations not only attempt to undermine the Chairperson’s contribution to the Indian capital market but also undermine the country’s economic progress and creates a trust deficit in the market ecosystem by connecting random events done in the past, it said.

• Also read: Will Hindenburg report jeopardise SEBI Chair’s reappointment next year?

Left unchecked, it can create unnecessary hurdles in the path of the world’s fastest-growing economy. These statements, lacking in context and understanding of regulatory environment, seek to malign the hard-earned achievements of the nation, said AMFI.

“India’s future is bright and our market structure is strong. We encourage our stakeholders to remain confident and continue to be part of this extraordinary growth story,” it said.