Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), and her husband Dhaval Buch have strongly refuted claims made by Hindenburg Research regarding their investments in offshore entities linked to the Adani Group. They clarified that their 2015 investment, made while they were private citizens in Singapore, was based on a connection with Anil Ahuja and was redeemed in 2018, with no ties to Adani securities. Dhaval’s 2019 appointment at Blackstone was unrelated to the Adani Group and handled without conflicts of interest. They emphasized SEBI’s regulatory transparency, dismissed accusations of favoritism, and criticized Hindenburg for undermining SEBI’s credibility.
5 Major Key Points:
Investment Clarification: The Buchs’ 2015 investment in offshore entities was made before Madhabi’s SEBI appointment and had no Adani Group securities involved.
Professional Appointments: Dhaval Buch’s role at Blackstone, starting in 2019, was based on his supply chain expertise and was disclosed to SEBI to prevent conflicts of interest.
Regulatory Oversight: SEBI has issued over 300 circulars in the past two years with full transparency and public consultation, countering any claims of biased regulation.
Compliance and Disclosure: The Buchs have fully disclosed their investments and business activities to SEBI and other authorities, ensuring compliance.
Critique of Hindenburg: The Buchs accused Hindenburg of attempting to discredit SEBI and its Chairperson through character assassination, rather than addressing a show cause notice.
