SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch termed the allegations made by Hindenburg Research as baseless and denied the “insinuations made in the report. “
“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,” they said in a joint statement.
“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,” the statement said.
They said that it is unfortunate that Hindenburg Research, against whom SEBI has taken enforcement action and issued a show cause notice, has chosen to attempt character assassination in response to the same.
The statement comes in response to a new report by Hindenburg, which launched a direct attack on Madhabi Puri Buch, Chairperson of the Securities Exchange Board of India. The report alleges that she and her husband held stakes in offshore funds linked to entities involved in the alleged Adani cash siphoning scandal.