 "Sebi chairperson Madhabi Puri Buch")
Sebi and its chairperson Madhabi Puri Buch rebutted fresh allegations.
A day after the Securities and Exchange Board of India (Sebi) and its chairperson Madhabi Puri Buch issued their statements in the latest Hindenburg report, Secretary, Department of Economic Affairs, Ajay Seth told reporters on Monday that the government had nothing further to add on the issue.
“Sebi has given a statement. The Chairperson has also made a statement… There is nothing further to be added by the government,” Seth said.
On Sunday, Sebi and Buch had rebutted fresh allegations made by New York-headquartered Hindenburg Research in Adani matter.
In a new report on Saturday, Hindenburg questioned the delay in the Adani probe and Sebi’s objectivity in the matter, alleging Buch and her husband, Dhaval, were conflicted parties because they had invested in a fund that was allegedly used to inflate stock prices of the Adani group.
Besides raising eyebrows over the use of a foreign fund structure, the US short-seller also accused the Indian securities regulator of promoting real estate investment trusts (REIT) due to Dhaval Buch’s association with private equity major Blackstone, a large investor in the domestic realty space.
Both Sebi and the Buchs issued separate statements rebutting all the allegations, terming them baseless and an attempt at character assassination.
Hindenburg had issued a report on the couple’s investments in IPE Plus 1 Fund, a Mauritius-based segregated fund under the Global Dynamic Opportunities Fund (GDOF) managed by IIFL Wealth -now 360-One.
However, 360-One WAM said on Sunday that its IPE-Plus Fund 1, in which the couple had invested, did not make any direct or indirect bet on the shares of Adani group during its tenure.
Adani Group termed the latest allegations as a red herring describing them as malicious, mischievous and manipulative.
Opposition INDIA bloc has demanded a joint parliamentary committee probe in the allegation of short-seller Hindenburg.
First Published: Aug 12 2024 | 2:41 PM IS