American short seller firm Hindenburg is once again in the headlines. Hindenburg Research has claimed in its disclosure that whistleblower documents have revealed that the SEBI chairman had stakes in shadowy offshore entities used in the Adani money siphoning scam. Hindenburg Research had posted a post on X on Saturday. In this, another big revelation related to an Indian company was indicated. The American short seller firm had written in the post, “Something big is going to happen in India soon”.
On Saturday evening, Hindenburg Research made another post on its website and shared a report related to this revelation. Hindenburg has claimed in this report that there is a link between Adani Group and SEBI Chief. Hindenburg Research has alleged that documents obtained from the whistleblower show that SEBI Chairman Madhabi Puri Buch had a stake in the offshore entities used in the Adani money siphoning scandal.
Hindenburg said in his report, ‘He had earlier noted that the Adani Group had continued its work with full confidence despite the risk of intervention by the regulator. It can be understood that there is some connection between SEBI Chairman Madhabi Puri Buch and Adani Group.
“Citing whistleblower documents, the report claims that Madhabi Buch and her husband Dhaval Buch opened their account with IPE Plus Fund 1 in Singapore on June 5, 2015. The fund declaration signed by the principal states that the source of investment is salary and the couple’s total investment is estimated at $10 million.”
Hindenburg alleges that the offshore Mauritius fund was set up by an Adani director through India Infoline and is registered in the tax haven Mauritius.
Note: Aaj Tak has contacted SEBI for response to the allegations, and upon receiving a response, the report will be updated accordingly.