look news india
After Hindenburg's allegations, the SEBI chief gave a joint response. Hindenburg, while expressing his reaction, made new allegations against the SEBI chief. He has asked a strange question that whether the clients of SEBI Chairperson Madhabi Buch's husband also include those people whom SEBI has been entrusted with the task of regulating?
Hindenburg said that they have accepted the allegations in the statements of the SEBI chairperson and her husband itself. What other investments and businesses does SEBI chairperson Madhabi Buch have in her husband's name? Madhabi Buch's answer and clarification raises many other important questions. SEBI is not investigating the allegations against the Adani Group because the SEBI chairperson and her husband have crores of investments in the Adani Group's offshore fund. Thus this case is clearly a case of conflict of interest of the SEBI chief. In a separate post recently by Hindenburg accusing Madhabi Buch and her husband, the Buch couple have confirmed in a reply that the offshore fund was run by her husband Dhaval Buch's childhood friend who is a director in the Adani Group.
Several points have been acknowledged in Madhabi's answer
Hindenburg claimed that many allegations have been accepted in the answers given to us by Madhabi Buch. Which also raises many new questions. Buch's answers confirm investments in Bermuda and Mauritius funds. Also, Vinod also confirmed money laundering by Adani. SEBI was tasked with investigating the investment fund scam by the Adani Group, which also included funds invested personally by Madhabi Buch and funds of its founders. This is a case of conflict of interest.
Will SEBI chairperson answer all these questions by conducting an investigation?
Hindenburg alleged that Madhabi Buch set up two consulting firms, one in India and one in Singapore. She was retired soon after her appointment to SEBI in 2017. Her husband took over in 2019, so the ownership of the company is still with her, not her husband. These companies are currently active and making money. Buch was a partner and 100 per cent shareholder in Singapore's Agora Partners till March 16, 2022. He was also the owner of this company while being a full-time member of SEBI. Two weeks after being appointed SEBI chairman, Madhavi Buch transferred her shares to her husband's name. Before his appointment, the SEBI chief had transferred Adani Group accounts only to Dhawal Buch's name. It is necessary to investigate how much Madhabi invested in her husband's name and how much business she did even while holding the post of SEBI.
