New Delhi. American research and investment company Hindenburg Research has once again made a new disclosure in the matters related to Adani Group. This time, Hindenburg has made serious allegations against market regulator SEBI chairperson Madhavi Puri Buch and her husband Dhabal Buch of having stakes in foreign funds linked to Adani. However, the SEBI chairperson and her husband have termed these allegations as completely baseless and called it an attempt to defame. Now an official statement has also been issued by the Adani Group in this matter.
Adani Group statement
Adani Group has completely rejected Hindenburg’s allegations and called it malicious. The company said in its statement, “These allegations have been presented by distorting the facts. We completely reject these allegations and consider it an attempt to tarnish our image. This report is based on pre-determined conclusions against us, which have been prepared for personal gain.”
Adani Group issues a statement on the latest report from Hindenberg Research.
The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information to arrive at pre-determined conclusions for personal profiteering with… pic.twitter.com/WwKbPLTkrv
— ANI (@ANI) August 11, 2024
The Adani Group also clarified that the allegations made by Hindenburg have already been investigated in depth and these allegations were dismissed by the Supreme Court in January 2024. The company said that this is a repetition of the repeated attacks against us, which have no basis.
What does the new Hindenburg report say?
Hindenburg has alleged in its new report that SEBI Chairperson Madhavi Puri Buch and her husband Dhabal Buch have stakes in the foreign fund that was allegedly used by the Adani Group to embezzle money. According to the report, the current SEBI chief and her husband had stakes in the fund controlled by Gautam Adani’s elder brother Vinod Adani. This fund was used to increase the price of Adani Group shares and embezzle money.
Hindenburg based its claims on ‘whistleblower documents’ and said that SEBI had shown no particular interest in investigating the Adani Group’s Mauritius and other overseas shell units. The report also alleged that the SEBI chairperson and her husband had invested in a multi-layered overseas fund with low assets instead of an Indian mutual fund.
SEBI chairperson’s clarification
On these serious allegations, SEBI Chairperson Madhavi Puri Buch and her husband have jointly issued a statement calling Hindenburg’s allegations completely baseless. They said that all this is a well-planned conspiracy to defame them and their image.
