Key Points
Dhaval Buch News: On Saturday, US-based short-seller Hindenburg Research alleged that Madhabi Puri Buch, chairperson of the Securities Exchange Board of India (SEBI), and her husband Dhaval Buch held stakes in an offshore fund with significant investments from Vinod Adani, brother of Gautam Adani...
These entities were allegedly involved in a network used by Vinod Adani to siphon money, raising questions about SEBI's impartiality due to potential conflicts of interest...
According to the Hindenburg report, on March 22, 2017, days before Madhabi Puri Buchs appointment as SEBI chairperson, her husband contacted Mauritius fund administrator Trident Trust regarding their investment in the Global Dynamic Opportunities Fund (GDOF)...
In the letter, Dhaval Buch requested to 'be the sole person authorised to operate the Accounts', seemingly moving the assets out of his wife's name ahead of the politically sensitive appointment, alleged the report...
Additionally, the Hindenburg report mentions that during Dhaval Buch's tenure as a senior advisor at Blackstone, the company sponsored Mindspace and Nexus Select Trust, Indias second and fourth real estate investment trusts (REIT) to receive SEBI approval for public initial public offerings (IPO)..
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