Key Points
They accuse the US-based short-seller of attempting character assassination in response to a show-cause notice issued by Sebi concerning the Adani issue..
The Buchs criticize Hindenburg's actions as a retaliatory attempt against the enforcement action taken by the regulator.Hindenburg doing character assassination in response to Sebi notice, Madhabi Buch denies allegations..
Dismissing the allegations made by Hindenburg Research as baseless , Sebi chief Madhabi Puri Buch and her husband Dhaval Buch today said the US-based short-seller is resorting to character assassination in response to a show-cause notice issued by the regulator in the Adani controversy...
It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same, the husband-wife duo said in a late night statement...
"In brief, despite the existence of thousands of mainstream, reputable onshore Indian mutual fund products, an industry she now is responsible for regulating, documents show SEBI Chairperson Madhabi Buch and her husband had stakes in a multi-layered offshore fund structure with miniscule assets, traversing known high-risk jurisdictions, overseen by a company with reported ties to the Wirecard scandal, in the same entity run by an Adani director and significantly used by Vinod Adani in the alleged Adani cash siphoning scandal," the report said...
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