#SEBI chief & her hubby invested in same #offshore #Bermuda & #Mauritius funds used by Vinod #Adani : #Hindenburg

Hindenburg Research's latest allegations, based on documents provided by a whistleblower and investigations conducted by other entities, claim that Madhabi Buch and Dhaval Buch had hidden stakes in the same offshore Bermuda and Mauritius funds, which were part of a complex nested structure used by Vinod Adani. The report also mentioned that the couple had opened an account with IPE Plus Fund 1 in Singapore on June 5, 2015, with a declared net worth of $10 million.

The alleged timeline of SEBI Chairperson’s Adani-linked actions:

June 2015 – Buch Invests in IPE Plus offshore fund investing into Adani entities. Founder & CIO of fund was Anil Ahuja, director of Adani Enterprises until June 2017.

Mar 2017 – Transfer assets from joint name to husband’s name pre- appointment to SEBI.

Apr 2017 – Join board of SEBI

Feb 2018 – Puch fund stake value: $872,765.18

Apr 2019 – Blackstone gets approval for India’s first ever REIT

Jul 2019 – Husband Dhaval Puch appointed as “Senior Advisor” in Blackstone.

Mar 2022 – Buch appointed as Chairperson. Replaced Ajay Tyagi, the superstar regulator who took on big corporates.

2023-2024 - SC approves committee to investigate Adani. Committee accepts Chairman recommendations & informs SC it is unable to get details of FPI holders of offshore funds investing into Adani group.

This timeline paints a concerning picture that raises significant questions about potential conflicts of interest and the integrity of regulatory actions. The connections between SEBI's Chairperson, her investments, and Adani-linked entities need thorough investigation to ensure transparency and trust in the regulatory process. It's essential for the credibility of SEBI and the Indian financial system that these allegations are addressed with full transparency. The public deserves to know the truth, and any necessary actions should be taken to maintain the integrity of our financial institutions.

 SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch have refuted the allegations made against them by Hindenburg Research, a US-based short-seller, in its recent report.