Hindenburg Allegations: More than a year and a half ago, Hindenburg Research accused the Adani Group of manipulating the share prices. After this, in the month of August, Hindenburg accused SEBI chief Madhabi Puri Buch of having business relations with the Adani Group.

Madhabi Buch Mumbai Event: Many serious allegations have been leveled against SEBI Chief Madhabi Puri Buch in the past few days. These allegations include misuse of power and working for self-interest. Meanwhile, Buch decided not to participate in a program to be held in Mumbai. He was to speak as the keynote speaker in this program. This has happened at a time when Buch has not publicly responded to the allegations leveled against him by American short seller firm Hindenburg Research. Hindenburg Hindenburg has showered questions and allegations on SEBI Chairperson Madhabi Puri Buch a day ago. This time the research firm made many serious allegations against the SEBI Chairperson. Accusing Buch of misuse of position in these allegations, it was said that the SEBI Chairperson has received payment from four companies while being a Whole-Time Member. Earlier, in a report released on August 10, Buch was accused of having business relations with the Adani Group.

Buch and Adani Group last month termed the allegations baseless.

Now Hindenburg Research has questioned SEBI chief Madhabi Puri Buch's 'silence' over new allegations of 'improper conduct, conflict of interest and accepting payments from companies while serving as a SEBI member'. Hindenburg had accused the Adani Group of using tax haven countries to evade local market regulations in January 2023. Hindenburg had alleged last month that SEBI Chairperson Buch's past investments and deals may be behind the slow investigation against the Adani Group. However, Buch and the Adani Group denied last month's allegations.

Congress party also made several allegations against SEBI Chief

The opposition Congress party has also made several allegations against the SEBI chief in recent times. Congress says that it is wrong for her to hold 99 percent shares in a company which is 'actively providing advisory services till date' and for her husband Dhawal Buch to earn income from companies whose decisions were being taken by her. Buch has not yet given any reaction to the allegations. She was scheduled to attend the 'NBFID Infrastructure Conclave' in Mumbai on Thursday but later cancelled her program to go there. Buch was invited as the keynote speaker in the conference.

Hindenburg attacks again

Hindenburg wrote on 'X', 'New allegations have surfaced that the private advisory company, which is 99 percent owned by SEBI chief Madhabi Buch, accepted payments from several listed companies regulated by SEBI during her tenure as SEBI full time member. Hindenburg said that it said that these allegations 'apply to Buch's Indian consulting unit, while no details have been given yet about Buch's Singapore-based unit.' Hindenburg said that 'Buch has maintained complete silence on all emerging issues for weeks.'

Hindenburg had alleged on August 11 that Buch had previously invested in a foreign fund, which was also used by the Adani Group. Buch and her husband denied these allegations. Since then, Congress and Zee Group Chairman Subhash Chandra have accused her, but she has not yet responded.