Hindenburg Research on SEBI: As the night deepened, the US short seller firm Hindenburg Research made the latest disclosure, but this time it has directly attacked the chairperson of India’s stock market regulator, i.e. SEBI. Hindenburg has cited whistleblower documents and accused SEBI chairperson Madhabi Puri Buch that Madhabi Buch and her husband Dhawal Buch have had a stake in the same obscure offshore entity of Gautam Adani which was used in the Adani money siphoning scandal. However, it is important to note here that ABP News does not confirm these documents.
Madhabi Puri Buch is the chairperson of SEBI
Madhabi Puri Buch is the chairperson of the Securities and Exchange Board of India (SEBI). As the first woman chairperson to lead SEBI, Madhabi Puri Buch is also the first person from the private sector to be appointed to this post. Till April 2017, she was working as a full-time member of SEBI along with former SEBI chief Ajay Tyagi, after whose retirement she took over as the head of the stock market regulatory body SEBI.
She became the chairperson of SEBI after Ajay Tyagi
Madhabi Puri Buch is the first woman chief of India’s stock market regulator SEBI. She took over the charge of SEBI in place of Ajay Tyagi whose five-year term ended. The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the appointment of Madhabi Puri Buch for a period of three years.
NEW FROM US:
Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandalhttps://t.co/3ULOLxxhkU
— Hindenburg Research (@HindenburgRes) August 10, 2024
Hindenburg’s report begins with the background of Adani revelations
Hindenburg’s report states that it has been almost 18 months since its report on the Adani Group, which presented strong evidence that this Indian group was committing the biggest scam in corporate history. The report begins with the statement that…
Background: “18 months after our Adani report, SEBI’s lack of interest in Adani’s alleged undeclared web of Mauritius and offshore shell entities is surprising.”
Hindenburg further wrote in bold letters in its published report that “We did not realize that the current SEBI chief and her husband Dhaval Buch had hidden stakes in the same obscure offshore Bermuda and Mauritius funds. This was found in the same complex nested structure used by Vinod Adani.”
Note-For information, let us tell you that Vinod Adani is the elder brother of India’s billionaire businessman and owner of Adani Group, Gautam Adani.
Hindenburg Research has said in its allegations that Madhabi Puri Buch was a full-time member of SEBI from April 2017 to October 2021, i.e. for 4 years and 7 months. She had 100 percent stake in a consulting firm named Agora Partners in Singapore. She was appointed as the chairperson of SEBI on 16 March 2022. Just two weeks before this happened, she transferred her shares in the company to her husband Dhawal Buch.
Financial journey of SEBI chief Madhabi Puri Buch
Madhabi Puri Buch has worked as a full-time director of SEBI.
She has also been an advisor to the New Development Bank in Shanghai, China.
He has also served as head of the Singapore office of private equity firm Greater Pacific Capital.
She has been associated with the ICICI Group for a long time. She has worked as MD and CEO of ICICI Securities Limited and as an Executive Director on the Board of ICICI Bank.
Madhabi Puri Buch, a graduate from St. Stephen’s College, has an MBA degree from IIM Ahmedabad.
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Hindenburg: Hindenburg Research made serious allegations against SEBI Chairperson, said- has connection with Adani scam, has stake in this company
