Hindenburg vs Sebi Chief: Who said what and how it has impacted stock market
India TodayUS-based short seller firm Hinderburg created buzz on Friday by sharing a cryptic post on X, hinting at a big revelation pertaining to India. Something big soon India — Hindenburg Research August 10, 2024 It then published a report on Saturday claiming that whistleblower documents showed Securities and Exchange Board of India Chairperson Madhabi Puri Buch and her husband had a stake in the obscure offshore entities used in the 'Adani money siphoning scandal'. In response to the allegations, Madhabi Puri Buch and Dhaval Buch said that the claims in the Hindenburg report were "groundless" and "without merit." The Buchs said that their investment in the fund, which Hindenburg claimed is linked to the alleged "Adani stock manipulation", was made two years before Madhabi joined Sebi. The Securities and Exchange Board of India dismissed allegations from Hindenburg Research that changes to Real Estate Investment Trust rules were influenced by Sebi Chairperson Madhabi Buch’s husband, Dhaval Buch, who is employed by Blackstone.