In a bombshell report, Hindenburg Research has accused SEBI Chairperson Madhabi Puri Buch and her husband of holding stakes in offshore funds linked to the Adani Group, allegedly used for a massive money siphoning operation. The report, based on whistleblower documents, has sparked a political firestorm, with Buch vehemently denying the claims as baseless character assassination. This controversy reignites scrutiny on the Adani Group, following earlier accusations of fraud and stock manipulation, and poses challenging questions for India’s financial watchdog and the Modi government.
Hindenburg Research released a report on Aug
ust 10, 2024, accusing Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), and her husband, Dhaval Buch, of holding stakes in offshore funds tied to the Adani Group. The report claims that these funds were used in a money siphoning scandal involving the Adani Group, citing whistleblower documents as evidence.
ust 10, 2024, accusing Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (SEBI), and her husband, Dhaval Buch, of holding stakes in offshore funds tied to the Adani Group. The report claims that these funds were used in a money siphoning scandal involving the Adani Group, citing whistleblower documents as evidence.