SEBI Chairperson Madhabi Puri Buch and husband Dhaval Buch in a joint statement late on Saturday night, replying to Hindenburg’s note accusing them of involvement in the Adani case, said that, they wont hesitate to disclose any and all financial documents, including the ones which relate to the period when they were strictly private citizens.
“We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course,” said Madhabi Buch and Dhaval Buch in a statement.
Hindenburg alleged that Madhabi Buch and her husband Dhaval Buch appear to have opened their account with IPE Plus Fund 1 on June 5th, 2015 in Singapore.” Hindenburg alleged that this fund was part of a “complex nested structure, used by Vinod Adani,” brother of Gautam Adani.
Hindenburg Research also stated that 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.”
