Hindenburg allegations against Adani Group duly investigated; Chairperson Buch disclosed, recused when necessary: SEBI

The Adani Group has denied allegations from US short seller Hindenburg Research that SEBI chairperson Madhabi Puri Buch was involved in offshore entities involved in the Adani money siphoning case. The group denied any commercial relationship with individuals or matters mentioned and reiterated that its overseas holding structure is fully transparent. The group also dismissed Hindenburg's allegations as baseless and accused the US-based company of attempting character assassination in response to a show-cause notice issued by the regulator in the Adani controversy.

Sebi chief Madhabi Puri Buch and her husband Dhaval Buch have dismissed allegations from Hindenburg Research as baseless. 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.

In May this year, the Supreme Court had given the SEBI time till August 14 to finish the investigation into these allegations.

Adani-Hindenburg Case: Hindenburg Research's disclosure of suspected violations by Sebi regarding Adani Group's short bet led to minimal gains, highlighting challenges foreign investors face under Indian securities rules. The short seller also stated that Kotak Mahindra Bank created and oversaw an offshore fund structure used by its investor partner to bet against the conglomerate, providing new details of trades that puzzled investors.

It’s better to finish the probe before the money trail goes cold

The markets regulator will consider permitting the delisting of companies via fixed price instead of the reverse book-building procedure, Chairperson Madhabi Puri Buch said on Monday

Adani Group said the allegations are recycled and another concerted bid by Soros-funded interests to revive the meritless Hindenburg report.

The group has denied all allegations levelled by Hindenburg As part of this projects are being reevaluated based on cashflow and finance available

SEBI said it has investigated 24 transactions involving the Adani Group's listed companies of which 22 are final in nature