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Madhabi Puri Buch

Hindenburg Chose Character Assassination, SEBI Chief Madhabi Buch And Husband’s Statement

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'Hindenburg Chose Character Assassination...': SEBI Chief And Husband's Statement

SEBI chief Madhabi Puri Buch and husband Dhaval Buch have slammed Hindenburg Research

New Delhi:

SEBI chief Madhabi Puri Buch and husband Dhaval Buch have said US short seller Hindenburg Research has attempted character assassination of the SEBI chairperson, instead of replying to the show cause notice for rule violations in India.

“The investment in the fund referred to in the Hindenburg report was made in 2015 when they were both private citizens living in Singapore and almost two years before Madhabi joined SEBI, even as a Whole Time Member,” the Buchs said in a statement today.

“The decision to invest in this fund was because the Chief Investment Officer, Anil Ahuja, is Dhaval’s childhood friend from school and IIT Delhi and, being an ex-employee of Citibank, JP Morgan and 3i Group plc, had many decades of strong investing career,” they said.

“As confirmed by Anil Ahuja, at no point in time did the fund invest in any bond, equity, or derivative of any Adani group company…” the couple said.

“Hindenburg has been served a show cause notice for a variety of violations in India. It is unfortunate that instead of replying to the show cause notice, they have chosen to attack the credibility of the SEBI and attempt character assassination of the SEBI Chairperson,” they said.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)



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SEBI Chief Madhabi Puri Buch Denies Hindenburg Report: “Attempt To Character Assassination”

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SEBI Chief Denies Hindenburg Report: 'Attempt To Character Assassination'

Mumbai:

The chief of markets regulator SEBI has strongly denied the latest Hindenburg Research report as “baseless allegations and insinuations”. Securities and Exchange Board of India chairman Madhabi Puri Buch and her husband Dhaval Buch called it an attempted “character assassination” in response to SEBI action against the short-seller.

The markets regulator had in July flagged a violation by Hindenburg and its sole beneficial owner Nathan Anderson under the SEBI Act, SEBI’s Prevention of Fraudulent and Unfair Trade Practices regulations, and SEBI’s Code of Conduct for Research Analyst regulations.

The SEBI chief also said in the statement that they are ready to disclose any financial document if sought by authorities.

Here’s the full statement:

In the context of allegations made in the Hindenburg Report dated August 10,2024 against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book.  All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course.

It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same.   

Madhabi Puri Buch
Dhaval Buch

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