Hindenburg’s allegations: Sebi chief Madhabi Puri Buch issues a point-by-point rebuttal
Hindenburg Research on Saturday made serious allegations against Sebi chief Madhabi Puri Buch and her husband, Dhaval Buch, accusing them of conflicts of interest and questionable financial dealings linked to offshore entities.
The allegations were firmly dismissed by both Madhabi and Dhaval Buch, who released a detailed statement addressing the claims on Sunday.
The Adani Group, also implicated in the report, panned the allegations, calling it baseless. It termed Hindenburg as a “discredited short-seller” under scrutiny for multiple violations of Indian securities laws, dismissing the allegations as “red herrings” thrown by an entity showing contempt for Indian regulations.
In their statement, Madhabi and Dhaval Buch refuted the charges made by Hindenburg Research.
“There are certain allegations made against SEBI which would be addressed by the institution independently,” the release stated. However, they chose to clarify the accusations made against them personally.
Madhabi Puri Buch, an alumnus of IIM Ahmedabad with over two decades of experience in banking and financial services, and Dhaval Buch, an IIT Delhi graduate with a 35-year career at Hindustan Unilever Limited, said their investments and net worth have been accrued through years of professional work.