Madhabi Buch’s statement on the Hindenburg report said: False allegations were made against SEBI
After Gautam Adani, SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch issued a statement on the allegations by US short-seller research firm Hindenburg. Responding to the allegations on Sunday, SEBI Chairperson Madhabi Puri Buch said that from our side, show-cause notices were sent to Hindenburg several times. But he did not respond to them. In return, they have raised doubts on the credibility of a prestigious institution like SEBI and made false allegations. In fact, Hindenburg claimed in a new report that Madhabi Puri Buch and her husband Dhaval Buch have stake in an offshore company linked to the Adani Group. Following this, Madhabi Puri Buch responded, calling the allegations baseless and an attempt at defamation.
He said that it is very sad that instead of responding to these notices, Hindenburg has chosen to attack the credibility of SEBI and carry out defamation. Earlier, Gautam Adani had also responded to Hindenburg’s allegations and said that Hindenburg only wants to make profits by defaming him and all his allegations are wrong and baseless. Hindenburg Research also personally attacked the SEBI chairman. Hindenburg published a report on Saturday evening citing the so-called document and made several allegations against SEBI chief Madhabi Puri Buch and her husband Dhaval Buch following which reactions started pouring in from all sides. Let us also tell you in detail what else the SEBI chief said about the allegations…
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Madhabi Puri Buch and Dhaval Buch gave a detailed response to Hindenburg’s allegations on Sunday, August 11. In this, they said that SEBI’s first woman chairperson Madhabi Puri Buch studied at IIM Ahmedabad. She has over two decades of experience in the banking and finance sector. While Dhaval Buch has been a student of IIT Delhi. Her career spans 35 years. We have always given information about our salary, bonus and shares.
SEBI chief told the truth
In the fresh reply, Madhabi Puri Buch has said that the investment in the fund mentioned by the short seller was made in the year 2015, when both of them (Madhabi Puri Buch and Dhaval Buch) were private citizens of Singapore, this investment was made by Madhabi this was two years after Puri joined SEBI, even before he became a full-time member.
In her reply, the SEBI chief says that the decision to invest in this fund was taken on the advice of the fund’s chief investment officer Anil Ahuja, who is Dhawal’s childhood friend and a friend from IIT Delhi. Ahuja has invested in Citibank, JP Morgan and 3i Group. He had several decades of investment experience, having worked in similar institutions. The reason for this investment is clear from the fact that when Ahuja left his position as the CIO of the fund in 2018, we redeemed our investment from that fund.
