![JMA – Ninja & Deep Jandu [Official MV] Kaptaan](https://i.ytimg.com/vi/-dsfIh319s0/maxresdefault.jpg "JMA – Ninja & Deep Jandu [Official MV] Kaptaan")
India
oi-Amit Vasudev
Adani
Group
stocks
fell
by
up
to
4%
after
U.S.
short-seller
Hindenburg
Research
claimed
that
SEBI
chief
Madhabi
Puri
Buch
and
her
husband,
Dhaval
Buch,
had
interests
in
offshore
funds
based
in
Bermuda
and
Mauritius.
These
funds
were
allegedly
used
by
Gautam
Adani’s
brother,
Vinod
Adani,
to
acquire
and
trade
significant
shares
in
the
Adani
Group.
In
response
to
the
allegations,
Madhabi
Puri
Buch
clarified
that
the
investment
in
the
fund
referred
to
by
Hindenburg
was
made
in
2015,
when
she
and
her
husband
were
private
citizens
living
in
Singapore,
almost
two
years
before
she
joined
SEBI.
She
explained,
“The
decision
to
invest
in
this
fund
was
because
the
Chief
Investment
Officer,
Anil
Ahuja,
is
Dhaval’s
childhood
friend
from
school
and
IIT
Delhi
and,
being
an
ex-employee
of
Citibank,
JP
Morgan,
and
3i
Group
plc,
had
many
decades
of
strong
investing
career.”
Buch
also
noted
that
the
two
consulting
companies
going
dormant
were
“explicitly
part
of
her
disclosures
to
SEBI.”
Claps
Back
At
Sebi
Chief
Madhabi
Buch’s
Retort:
‘Her
Response
Confirms…’
She
added,
“When
the
shareholding
of
the
Singaporean
entity
moved
to
Dhaval,
this
was
once
again
disclosed,
not
just
to
SEBI,
but
also
to
the
Singaporean
authorities
and
the
Indian
tax
authorities.”
Hindenburg
responded
to
Buch’s
statement
by
claiming
it
“publicly
confirms”
her
investment
in
the
Bermuda/Mauritius
fund
structure
“alongside
money
allegedly
siphoned
by
Vinod
Adani.”
Hindenburg
said
that
Buch
admitted
the
fund
was
run
by
a
childhood
friend
of
her
husband,
who
at
that
time
was
an
Adani
director.
