Key Points
The Adani Group on Sunday denied reports of US short seller Hindenburg Research which alleged SEBI chairperson Madhabi Puri Buch's involvement in the obscure offshore entities in siphoning case.. Hindenburg, on Saturday, alleged that the Buchs had invested in offshore entities supposedly tied to a fund structure overseen by India Infoline...
"For a discredited short-seller under the scanner for several violations of Indian securities laws, Hindenburg's allegations are no more than red herrings thrown by a desperate entity with total contempt for Indian laws," the Adani Group said.. Earlier, the SEBI chief and her husband Dhaval Buch dismissed Hindenburg's allegations as baseless and said that the US-based company is attempting character assassination in response to a show-cause notice issued by the regulator in the Adani controversy...
On Saturday, Hindenburg teased on X saying "Something big soon India" followed by allegations later in the night that Madhabi and her husband had invested in offshore entities supposedly tied to a fund structure overseen by India Infoline...
According to "whistleblower documents" cited by Hindenburg, "Madhabi Buch, the current SEBI chairperson, and her husband held stakes in offshore funds implicated in the Adani money siphoning scandal."..
Hindenburg claimed, "Vinod used this structure to invest in Indian markets with funds allegedly siphoned from over-invoicing of power equipment to Adani Group."..
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