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Hindenburg Report: American short seller company Hindenburg has released a new report on Adani. There have been allegations of collusion between SEBI Chairperson Madhabi Puri Buch and Adani. Investors are worried about what will happen in the stock market on Monday. In such a situation, SEBI has now advised investors to remain calm.
In a statement issued on Sunday, SEBI said that most of the investigation against Adani has been completed. Buchs called Hindenburg's allegations baseless and filed a reply.
Keep calm, be cautious: Sebi
SEBI has urged investors to remain calm and said, “Before reacting to such news, stay calm. Be careful. Read the disclaimer given in the report carefully, which states that readers should assume that Hindenburg Research's position may be small.”
Rahul Gandhi questioned the Modi government
1. Why has SEBI Chairperson Madhabi Buch not resigned yet?
2. Who is responsible if investors lose their hard-earned money? PM Modi, SEBI chairperson or Adani?
3. Will the Supreme Court investigate the matter after the new allegations?
Rahul Gandhi has said, 'Now it is known why Prime Minister Modi is so scared of the JPC investigation. This can bring out the truth.'
There is risk in the stock market: Rahul Gandhi
Rahul Gandhi has shared a video and said, 'Imagine a match is going on between India and Australia. Anyone who watches the match, plays the match knows that the umpire is not fair. So can the match be held? How would you feel as a person participating in the match? The Indian stock market is going through exactly this situation. In recent years, a large number of people are investing in the stock market. Honestly saved money is being invested in the stock market. As the leader of the opposition, it is my duty to draw your attention to the fact that the stock market is in danger due to collusion with the organization that controls the stock market.'
It is worth noting that on August 10, serious allegations were made against SEBI Chairperson Madhabi Puri Buch by Hindenburg Research. Hindenburg claimed that Madhabi Puri Buch and her husband had a partnership in an offshore company linked to the Adani Group.
I made the investment two years before joining SEBI: Buch
Madhabi Puri Buch and her husband Dhaval Buch have given a detailed response to the allegations of collusion with Adani by short-seller Hindenburg Research. In the new response, the Buch couple has said that they had invested in the fund mentioned by Hindenburg in 2015. Both of them (Madhabi Puri Buch and her husband Dhaval Buch) were Singapore citizens at that time and the investment was made two years before SEBI was joined.
I invested on the advice of a friend: Butch
Further, the Buch couple has said that they have made this investment on the advice of Dhawal's close friend and Chief Investment Officer Anil Ahuja. Anil Ahuja has been a friend of Dhawal Buch since childhood till IIT. Anil Ahuja has worked in organizations like Citibank, JP Morgan and 3i Group. The Buch couple claims that when they came to know in 2018 that Ahuja had resigned as the CIO of the fund, they also withdrew their investment. This fund has never been used in bonds or equity of any Adani company.
We have no business relationship with Adani
Adani Group has also responded to Hindenburg's allegations. Adani has also denied the allegations, saying that investigations have already been done and all the allegations have been proved baseless. In March 2023, the Supreme Court dismissed these allegations as baseless. The group says that there is transparency in its foreign holding structure and information is provided through public documents from time to time. We have no business relationship with the people mentioned in the report.