Lokpal’s clean chit to Ex- SEBI chief Madhabi Buch
The Lokpal on Wednesday gave a clean chit to former Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch on graft allegations against her based on the Hindenburg report.
Allegations are untenable, unsubstantiated and bordering on frivolity, the Lokpal noted while considering graft complaints against Puri Buch.
The Lokpal concluded that, based on the presented evidence and legal principles, the complaints were devoid of merit and did not establish a cognisable offence or a basis for investigation against her.
Serious allegations of conflict of interest and financial misconduct were levelled against the Sebi chief by US short-seller Hindenburg Research and the Congress party.
In August 2024, US short-seller Hindenburg claimed that whistleblower documents showed Sebi Chairperson Madhabi Puri Buch and her husband had a stake in the obscure offshore entities used in the ‘Adani money siphoning scandal’.