Hindenburg allegations against Adani Group duly investigated; Chairperson Buch disclosed, recused when necessary: SEBI

Hindenburg Research has alleged that it suspects SEBI’s unwillingness to act against Adani Group may be because Buch had stakes in offshore funds linked to the conglomerate

PTI

Updated At : 08:02 PM Aug 11, 2024 IST

In this April 2, 2024 file photo, SEBI Chairperson Madhabi Buch speaks during the CIIs 17th Corporate Governance Summit in Mumbai. PTI

Mumbai, August 11

In its first comments following a new report by US-based short seller Hindenburg Research, capital markets regulator SEBI on Sunday said it has investigated all the allegations against the Adani group.

Chairperson Madhabi Buch made relevant disclosures from time to time and recused herself in matters involving potential conflicts of interest, the regulator said in a statement.

The regulator also said that it has duly investigated the allegations made by Hindenburg against Adani, and said that last of its 26 investigations is nearing completion now.

Earlier, Buch and her husband Dhaval had termed the allegations baseless, and also said that the short seller is attacking the credibility of the capital markets regulator, and also attempting a character assassination of the Chairperson.

Hindenburg Research alleged that it suspects SEBI’s unwillingness to act against Adani Group may be because Buch had stakes in offshore funds linked to the conglomerate.