Serious allegation from US firm against Sebi chief...?

In a blog post on Saturday, US short-seller Hindenburg Research—which had destroyed a significant portion of the adani Group's net worth with its accusations of financial irregularities last year—said that Madhabi puri Buch, the chairperson of market regulator Sebi, and her husband Dhaval Buch had investments in "obscure offshore funds" that were involved in the adani scandal. 

Because of Buch's hidden financial stake in the company, the American firm said that the market regulator was displaying a "surprising lack of interest in Adani's alleged undisclosed web of mauritius and offshore shell entities".

A few points about the Hindenburg-Adani saga 2.0.

The American short seller made a shocking statement on her blog: "Madhabi Buch, the current chairperson of SEBI, and her husband had stakes in both obscure offshore funds used in the adani money siphoning scandal." This statement is sure to cause a stir in the indian political arena.

Hindenburg's 2023 allegations state that stock values of adani Group companies were artificially boosted by mysterious offshore money in mauritius and Bermuda that are purportedly under the supervision of gautam Adani's elder brother Vinod Adani.

The business asserted, using an IIFL document, that the couple's estimated net worth is $10 million and that their pay was the source of the covert investment.

It asserted that in its ruling, the supreme court stated that Sebi had "drawn a blank" about the source of funding for Adani's foreign owners. According to Hindenburg, the market regulator was hesitant to look into a possible financial trail that its chairwoman may have walked. "The SEBI chairman might have began by examining herself in the mirror if she had wished to locate the owners of offshore funds. It is hardly surprise to us that SEBI was hesitant to pursue a path that would have led to its chairperson," the statement continued.