Hindenburg asks Buch to come clean on her consulting cos' clients

‘Buch’s response now publicly confirms her investment in an obscure Bermuda/Mauritius fund structure, Hindenburg said

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SEBI chief Madhabi Puri Buch has now publicly confirmed her investment in an obscure Bermuda/ Mauritius fund structure, Hindenburg Research said, asking her to come clean on all the consulting clients her offshore Singaporean as well as Indian consulting firms dealt with.

Hindenburg in a series of posts on X said their response includes several important admissions and raised numerous new critical questions.

“Buch’s response now publicly confirms her investment in an obscure Bermuda/Mauritius fund structure, alongside money allegedly siphoned by Vinod Adani. She also confirmed the fund was run by a childhood friend of her husband, who at the time was an Adani director,” it said.

“SEBI was tasked with investigating investment funds relating to the Adani matter, which would include funds Ms Buch WAS PERSONALLY INVESTED IN and funds by the same sponsor which were specifically highlighted in our original report. This is obviously a massive conflict of interest,” Hindenburg said.