The American short-seller firm Hindenburg is back in the headlines. Hindenburg Research has claimed in its revelations that documents from a whistleblower show SEBI Chairperson's involvement in obscure offshore entities used in the Adani money siphoning scandal. Hindenburg Research posted on X on Saturday, hinting at another major revelation related to an Indian company. The American short-seller firm stated in the post, 'Something big is about to happen in India.'
On Saturday evening, Hindenburg Research made another post, sharing the related report on their website. The report claims a link between the Adani Group and the SEBI Chief. Hindenburg Research accuses that documents from a whistleblower reveal SEBI Chairperson Madhabi Puri Buch's involvement in the offshore entities used in the Adani money siphoning scandal.
Source: aajtak
In the report, Hindenburg Research, citing whistleblower documents, wrote that Madhabi Buch and her husband Dhawal Buch opened their account on June 5, 2015, in Singapore with the IPE Plus Fund 1. According to a declaration signed by a principal at IIFL, the source of the investment is salary, and the couple's total investment is valued at $10 million.
Hindenburg alleges that the offshore Mauritius fund was established through India Infoline by an Adani director and is registered in the tax haven of Mauritius.
In its report, Hindenburg notes, 'We had previously observed that despite the risk of regulatory intervention, the Adani Group continued its operations with full confidence. This could be understood as a connection between SEBI Chairperson Madhabi Puri Buch and the Adani Group.'
Source: aajtak
In January 2023, Hindenburg Research had targeted Adani Group, controlled by billionaire Gautam Adani, with a shocking report. Following this, Adani Group shares plummeted by around $86 billion. The sharp decline in stock prices also led to heavy selling in the group’s overseas-listed bonds. SEBI had issued a notice to Hindenburg as well.
