Market regulator SEBI Chairperson Madhabi Puri Buch, who has recently been the target of American short seller firm Hindenburg and the Congress, will now appear before the Public Accounts Committee (PAC) of Parliament. According to PTI report, SEBI Chief may appear before the PAC on 24 October 2024. This committee is summoning top officials of SEBI, Finance Ministry and Telecom Regulatory Authority of India (TRAI). During this period, the performance of the regulatory body will also be reviewed.
This meeting is being organized at a time when Hindenburg Research has made serious allegations against SEBI Chief and her husband Dhaval Buch. Hindenburg had revealed his alleged links with Adani Group. It is noteworthy that Hindenburg had earlier also issued a report against Gautam Adani and his companies, due to which the Adani Group had suffered a huge loss. TRAI Chairman Anil Kumar Lahoti can also be present in this PAC meeting.
After the allegations made by Hindenburg, Congress had also raised questions against Madhabi Buch and her husband in August 2024 and demanded their resignation. On the basis of Hindenburg report, Congress alleged that SEBI has not taken any effective action against Adani Group. Hindenburg claimed that in 2015, Madhabi Buch and her husband had opened an offshore account in Singapore, in which their total investment was $10 million. Additionally, Hindenburg said the fund was linked to a Mauritius tax haven fund set up by an Adani Group director.
Rejecting all these allegations, Madhabi Butch and her husband said in a statement that these allegations are completely baseless and their life is like an open book. He said that it is unfortunate that Hindenburg, to whom SEBI has issued a notice, has attempted to assassinate his character. He said that he will issue a detailed statement with full transparency in due course.
