Mumbai. The stock market regulator Securities and Exchange Board of India (SEBI) has completely denied the allegations of American short seller firm Hindenburg against its chairperson Madhavi Puri Buch and her husband Dhawal Buch. SEBI has told the stock market investors not to panic and get confused. Regarding the Hindenburg report, SEBI said in a statement issued on Sunday that its chief Madhavi Puri Buch has been providing all the information from time to time and has stayed away from potential conflict of interest cases.
On Hindenburg’s allegations about the Adani Group, SEBI said in its statement that 23 out of 24 allegations were investigated and whatever the American short seller firm had said in the previous report was not proved. Investigation of one allegation is still going on. SEBI has said that the allegations made this time by naming Blackstone are also false. SEBI said that stock market investors should also read the disclaimer of the Hindenburg report. SEBI has also said that the Supreme Court had also clarified the situation after hearing about Hindenburg’s previous report.
SEBI has said that during the investigation of Hindenburg’s allegations last time, more than 100 summons were issued. Help was also taken from domestic and foreign regulators and agencies more than 100 times. Apart from this, 12000 pages of documents were also looked at. SEBI has said that there is a framework in the case of conflict of interest and SEBI chief Madhavi Puri Buch has followed all the rules. On Hindenburg’s allegations against Madhavi Puri Buch’s husband Dhawal Buch, SEBI said that it had changed the rules after taking people’s opinion. The change in the rules was to benefit investors, not anyone in particular. In fact, Hindenburg’s report said that Dhawal Buch is an advisor in Blackstone and this company was benefited by changing the IRET rules.
