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India markets lawmaker requests calm amidst Hindenburg claims against director
(MENAFN) India’s Securities and Exchange Board of India (SEBI) has called for investor calm in response to recent allegations made by United States short-seller Hindenburg Research against its chairperson, Madhabi Puri Buch. Hindenburg's accusations, which emerged on Saturday, claim that Buch had previously invested in offshore funds associated with the Adani Group.
In its official statement, SEBI reassured investors that ongoing investigations into the Adani Group are progressing towards completion. The regulator emphasized that Buch has fully complied with all relevant disclosure requirements and adhered to policies designed to prevent conflicts of interest. SEBI maintained that, as a matter of policy, it refrains from commenting on specific investigations or enforcement actions.
SEBI defended Buch by asserting that she had made all necessary disclosures regarding her securities holdings and transfers. The regulator also noted that Buch had taken appropriate measures to avoid any potential conflicts of interest by recusing herself from related matters.
In response to the allegations, Buch clarified that her investments in the offshore funds referenced in the Hindenburg report occurred two years prior to her appointment as SEBI chairperson. This timeline is intended to demonstrate that the investments were made before she assumed her current role and, therefore, should not influence her actions or decisions as SEBI chairperson.
This call for composure comes amid heightened scrutiny of SEBI and its leadership as the allegations from Hindenburg Research continue to generate significant attention.
In its official statement, SEBI reassured investors that ongoing investigations into the Adani Group are progressing towards completion. The regulator emphasized that Buch has fully complied with all relevant disclosure requirements and adhered to policies designed to prevent conflicts of interest. SEBI maintained that, as a matter of policy, it refrains from commenting on specific investigations or enforcement actions.
SEBI defended Buch by asserting that she had made all necessary disclosures regarding her securities holdings and transfers. The regulator also noted that Buch had taken appropriate measures to avoid any potential conflicts of interest by recusing herself from related matters.
In response to the allegations, Buch clarified that her investments in the offshore funds referenced in the Hindenburg report occurred two years prior to her appointment as SEBI chairperson. This timeline is intended to demonstrate that the investments were made before she assumed her current role and, therefore, should not influence her actions or decisions as SEBI chairperson.
This call for composure comes amid heightened scrutiny of SEBI and its leadership as the allegations from Hindenburg Research continue to generate significant attention.
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