US-based short-seller Hindenburg Research alleged Saturday that SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in “obscure offshore funds” used in “Adani money siphoning”, news agency PTI reported.
The Supreme Court on Wednesday rejected pleas to transfer the probe into allegations made in Hindenburg report against the Adani group of companies from the Securities and Exchange Board of India (SEBI) to an SIT, saying the petitioners had not made out any valid ground for this.
Gautam Adani has now slipped to the 39th spot on the global rich list after the US-based short seller Hindenburg Research accused the Adani Group of indulging in stock manipulation and accounting fraud.
Gautam Adani no longer figures among the world’s 25 richest persons’ list after being caught in a short selling storm with Hindenburg research, according to the world billionaires list by Forbes and Bloomberg.
If Hindenburg was in India, it would have faced the draconian Unlawful Activities (Prevention) Act, said AIMIM supremo and Hyderabad MP Asaduddin Owaisi while launching an attack on Narendra Modi government in Lok Sabha.
Former Securities and Exchange Board of India (SEBI) chairman Upendra Kumar Sinha has said that he is not inclined to believe that Hindenburg report on Adani is an attack on India.