Morning Digest: SEBI Chief’s Response Sparks More Controversy, Hindenburg Alleges Massive Conflict of Interest
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SEBI Chief’s Rebuttal Raises Fresh Concerns, Says Hindenburg Research
In the wake of the Hindenburg Research report accusing SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch of having stakes in offshore funds linked to the Adani Group, the couple issued a public clarification. However, this response has only intensified the controversy, with Hindenburg Research asserting that their rebuttal contains critical admissions that confirm a “massive conflict of interest.”
Hindenburg’s latest statement emphasizes that Madhabi Buch’s acknowledgment of her investment in a Bermuda/Mauritius fund structure raises serious questions. The fund, which was allegedly involved in money siphoning by Vinod Adani, was reportedly managed by a childhood friend of Dhaval Buch, who was serving as an Adani director at the time. The U.S.-based short seller stressed that SEBI was responsible for investigating investment funds related to the Adani case, including those in which Ms. Buch was personally invested, highlighting an “obvious and massive conflict of interest.”
Paris Olympics Concludes with a Spectacular Show
The Paris 2024 Olympics drew to a close with a breathtaking ceremony that celebrated the spirit of sportsmanship and unity. The event, marked by dazzling performances and a grand display of French culture, left a lasting impression on athletes and spectators alike. As the world bids farewell to this historic event, reflections on the memorable moments and achievements of the Games are sure to continue.