Hindenburg Alleges SEBI Chief's Involvement in Adani Scandal

Aug 10, 2024, 04:49 PM

Hindenburg Research has released whistleblower documents alleging that Madhabi Buch, the current Chairperson of the Securities and Exchange Board of India (SEBI), and her husband held stakes in obscure offshore funds used in the Adani money siphoning scandal. These allegations suggest a potential conflict of interest as SEBI is responsible for regulating the markets and investigating misconduct. The documents claim that Buch had investments in these offshore entities, which were reportedly involved in financial activities linked to the Adani Group. This revelation has raised questions about the integrity of SEBI's leadership and its ability to impartially oversee market regulations.