Key Points
US short-seller Hindenburg Rsearch's recent report against Sebi chairperson Madhabi Puri Buch has not found many takers in the industry, with many saying it lacks "substance" and is aimed at "sensationalism"...
Ajay Rotti, founder and CEO of tax consulting firm Tax Compaas, today said that what was touted to be the smoking gun - the "offshore investment" in a fund - has turned out to be a small agarbatti smoke"...
Hindenburg, in its latest report published on Saturday, alleged that Madhabi Puri Buch had stakes in offshore funds linked to Adani Group..
However, Rotti said that IIFL has confirmed the fund into which Buch invested made zero investments into Adani Group in its entire tenure..
"While the screenshots and letters/emails appear as proof or strong evidence, the Hindenburg report actually lacks substance and has a silly allegation that the SEBI was unwilling to act on its previous report on the Adani Group because SEBI Chairperson Ms Buch and her husband Dhaval Buch had investments in offshore funds that allegedly linked with the Adani."..
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