Capital markets regulator SEBI Chairman Madhabi Puri Buch and her husband have refuted the allegations made by short-seller Hindenburg, calling them baseless. They emphasized that their finances are transparent and fully accounted for.
Key Points:
- Madhabi Puri Buch, SEBI Chairperson, has dismissed allegations made by Hindenburg Research.
- Hindenburg claimed that Buch had a stake in offshore entities linked to Adani’s financial activities.
- Buch responded, stating these allegations are “baseless” and an attempt at “character assassination.”
Press Statement Highlights:
- Complete Transparency: Buch and her husband, Dhaval Buch, emphasized that their financial records are open for scrutiny. They have already provided all required disclosures to SEBI and are ready to submit any additional documents if necessary.
- Allegations Denied: The Buchs firmly denied any wrongdoing, calling the accusations in the Hindenburg report “devoid of any truth.”
- Response to Hindenburg: The Buchs suggested that Hindenburg’s allegations were a retaliatory move in response to SEBI’s enforcement action and show cause notice issued against the short-seller.
Statement from Madhabi Puri Buch and Dhaval Buch:
“In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. 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. 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 SEBI chairperson has taken a firm stance against the accusations made by Hindenburg Research. With a commitment to transparency, the Buchs are ready to cooperate fully with any further investigations, maintaining that the allegations are unfounded.
