Hindenburg Research: Hindenburg, which targeted Adani Group last time, has this time directly attacked market regulator SEBI. The Hindenburg report states that SEBI Chairperson Madhabi Puri Buch is also in cahoots with the Adani Group. This is the reason why she has not taken any action against the Adani Group even in 18 months. Hindenburg Research had announced this disclosure on social media X in the morning.
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Ultimately, Hindenburg has once again attacked the Adani Group. Citing so-called secret documents, Hindenburg Research has said that the SEBI chairperson had a stake in the offshore entities used in the alleged Adani scam. ABP News does not confirm the documents on the basis of which Hindenburg has made these allegations against the SEBI chairperson.
Madhabi Puri Buch transferred her shares to her husbandÂ
Hindenburg Research has said in its allegations that from April 2017 to March 2022, Madhabi Puri Buch was the chairperson of SEBI along with being a whole-time member. She had 100 percent stake in a consulting firm named Agora Partners in Singapore. Two weeks before being appointed as the chairperson of SEBI on March 16, 2022, she transferred her shares in the company to her husband Dhawal Buch.Â
Money laundering done using obscure offshore fundsÂ
Hindenburg Research said in its allegations that according to the whistleblower document, the husband of current SEBI chairperson Madhabi Puri Buch has a stake in Obscure Offshore Funds. This has been used to manipulate Adani’s money (Adani Money Siphoning Scandal).
All information was given 18 months ago, still no action was taken Â
Hindenburg said in its alleged disclosure that even after 18 months of the report against Adani Group last year, SEBI has not shown any interest in taking action. Even after giving full information about the black money network of Adani Group in Mauritius, no action is being taken. In June 2024, SEBI instead issued a show cause notice to us.Â
SEBI chairperson’s husband Dhawal Buch targetedÂ
According to Hindenburg Research, while Madhabi Puri Buch was appointed as Whole-time Director in SEBI, her husband Dhawal Buch was appointed as Senior Advisor in Blackstone in 2019. In his allegations, the short seller said that according to her husband’s Linkedln profile, he had not previously worked in any real estate related fund or capital market. According to his profile, he has great experience in procurement and supply chain. He has spent a long time as Chief Procurement Officer in Unilever.
Earlier on August 10, Hindenburg Teases Major Disclosure for India
Earlier on August 10 , Hindenburg Research had hinted at making a big disclosure in India. It was posted on Hindenburg Research’s ex-social media account that something big is coming soon for India. The words of the tweet written in English were – Something big soon India.
In January last year, the Adani Group was disclosed
Let us tell you that Hindenburg published a report titled ‘Adani Group: How the World’s Third Richest Man is Pulling the Largest Con in Corporate History’ on January 24, 2023. In the report, the Adani Group was accused of large-scale corporate misconduct and share-price manipulation.
Hindenburg’s sensational claim on SEBI Chief Madhabi Puri Buch, know about the first woman SEBI chairperson
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.
Financial journey of SEBI chief Madhabi Puri Buch
Madhabi Puri Buch has worked as a full-time director of SEBI.Â
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 from IIM Ahmedabad.
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