Adani Hindenburg SEBI Chairperson Row: Adani Group stocks fell up to 4% in early morning trade on 12th August after US short-seller Hindenburg claimed that Sebi chief Madhabi Puri Buch and her husband Dhaval Buch held interests in offshore funds based in Bermuda and Mauritius. These funds were used by Gautam Adani’s brother Vinod Adani to acquire and trade significant shares in the Adani Group, the report claimed.
Stocks like Adani Energy Solutions, Adani Wilmar and Adani Total Gas fell between 5% and 7%.
| Adani Group Stocks | Losses |
| Adani Enterprises | -2.60% |
| Adani Ports | -1.50% |
| Adani Green Energy | -3% |
| Adani Energy Solutions | -2.80% |
| Adani Total Gas | -5% |
| Adani Power | -4% |
| Adani Wilmar | -3.70% |
| ACC | -1.20% |
| Ambuja Cements | -0.30% |
US short-seller Hindenburg Research launched a fresh broadside against market regulator Sebi chairperson Madhabi Buch, alleging she and her husband had stakes in obscure offshore funds used in the Adani money siphoning scandal.
In a blogpost, Hindenburg said 18 months since its damning report on Adani, “SEBI has shown a surprising lack of interest in Adani’s alleged undisclosed web of Mauritius and offshore shell entities.”
Citing “whistleblower documents”, it said, “Madhabi Buch, the current chairperson Of SEBI, and her husband had stakes in both obscure offshore funds used in the Adani money siphoning scandal.”
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
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