SEBI Chief Denies Hindenburg Report Allegations, Calls It Character Assassination

Mumbai: The chief of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch, has categorically denied the allegations made in a recent report by Hindenburg Research, labelling them as “baseless” and “devoid of any truth.”

In a statement, Buch, along with her husband Dhaval Buch, condemned the report as an attempt at “character assassination” in response to SEBI’s enforcement actions against the short-seller.

SEBI had previously flagged violations by Hindenburg Research and its sole beneficial owner, Nathan Anderson, under various SEBI regulations, including the Prevention of Fraudulent and Unfair Trade Practices regulations and the Code of Conduct for Research Analysts.

Madhabi Puri Buch further stated that she and her husband are fully prepared to disclose any financial documents to the authorities if required, emphasising that their finances have always been transparent. They also indicated that a more detailed statement would be issued soon.