The Great Indian Share Market Scandal: SEBI, Adani, and the Buch Connection

Hindenburg Research recently published a report alleging that SEBI chairperson Madhabi Puri Buch and her husband had investments in offshore funds linked to the Adani Group. The report claims that this connection may have influenced SEBI's reluctance to take action against the Adani Group. However, both Buch and her husband have denied these allegations, calling them baseless and an attempt at character assassination

Hindenburg Research's allegations:

- SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch had investments in offshore funds linked to the Adani Group.

- These investments may have influenced SEBI's reluctance to take action against the Adani Group.

- The report claims that Buch and her husband had stakes in the same obscure offshore funds used by Vinod Adani, the elder brother of Gautam Adani

Response from Buch and her husband:

- Both Buch and her husband have denied the allegations, calling them baseless and an attempt at character assassination.

- They claim that their investments were made before Buch became the SEBI chairperson and that they had no influence over SEBI's decisions.

- They also claim that the allegations are an attempt to discredit them and SEBI

Other developments:

- SEBI has issued a show-cause notice to Hindenburg Research for alleged violations.

- The Adani Group has denied all allegations made by Hindenburg Research.

- Opposition parties have called for a joint parliamentary committee to probe the allegations.