After raising eyebrows over Gautam Adani’s business dealings, Hindenburg Research has made fresh allegations regarding Sebi Chairperson Madhabi Puri Buch’s link to offshore funds connected to the Adani Group. It is claimed that Buch and her husband Dhaval Buch had hidden stakes in Bermuda and Mauritius funds similar to those used by Vinod Adani. These allegations are significant given Adani’s alleged money siphoning activities that have drawn attention in recent months.
The report by Hindenburg sheds light on the complex web of offshore funds used by Vinod Adani, brother of Gautam Adani, to invest in the Indian markets. This includes the involvement of Anil Ahuja, the Founder and Chief Investment Officer of IPE Plus Fund, who also served as a director in Adani Enterprises and Adani Power. The connections between Adani and the offshore funds highlight deeper ties that raise questions about regulatory oversight and business ethics.
The whistleblower documents also reveal how funds controlled by Vinod Adani were channeled through various entities to benefit the Adani Group. With close ties to Sebi Chairperson Madhabi Buch, it is suggested that Adani may have evaded regulatory scrutiny due to Buch’s own associations with offshore funds. This casts doubt on Sebi’s impartiality in investigating potential wrongdoing within the Adani Group.
Furthermore, revelations about Buch and her husband’s financial interests in offshore funds raise concerns about conflicts of interest and potential regulatory lapses. The report alleges that Buch’s consultancy business generated substantial revenue, raising questions about transparency and accountability in her role as Sebi Chairperson. The lack of action by Sebi against suspect shareholders connected to the Adani Group further underscores the need for greater scrutiny and accountability in India’s financial markets.
In light of these revelations, Hindenburg has pledged to donate proceeds from its report to causes supporting free expression. The allegations have yet to be addressed by Sebi, highlighting the need for greater transparency and accountability in regulating India’s financial sector. IndraprasthaResearch has raised serious concerns about the integrity of Sebi Chairperson Madhabi Buch in light of her alleged connections to offshore funds linked to the Adani Group. #MadhabiBuch #Adani #Sebi #RegulatoryLapse #OffshoreFunds #FinancialScandal #HindenburgResearch.
https://economictimes.indiatimes.com/markets/stocks/news/hindenburg-claims-sebi-chief-had-stake-in-offshore-entities-linked-to-adani/articleshow/112431536.cms