Hindenburg New Report: The US short seller firm Hindenburg Research released a fresh report On Saturday. The report allegedly claims that the whistleblower documents show Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch had a stake in the obscure offshore entities used in the “Adani money siphoning scandal”.
Moreover, the husband of SEBI chairperson Madhabi Puri’s husband Dhaval Buch also had stakes in an offshore fund where significant investments were made by Vinod Adani, the brother of Gautam Adani.
The report suggests that these entities were allegedly part of a network used by Vinod Adani to divert funds. Hindenburg has raised concerns about SEBI’s impartiality, citing potential conflicts of interest.
Notably, Zee News.com is awaiting comments from SEBI, following which the story will be updated. However, SEBI has made its X (formerly twitter) account private after the Hindenburg Research Report came out.
Who Is Dhaval Buch, Allegedly Involved In the Hindenburg Adani Case?
Dhaval Buch, the husband of SEBI Chairperson Madhabi Buch, is currently serving as a senior advisor at Blackstone and Alvarez & Marsal. He has been working with Blackstone since July 2019, according to his LinkedIn profile.
SEBI’s chief’s husband also serves as a non-executive director on the Board of Gildan. According to Alvarez & Marsal’s official website, Buch has operational experience of over three decades across Asia, Africa, Russia and the United States. Moreover, manufacturing, logistics, Supply chain planning, procurement, and distribution are his areas of expertise.
Dhaval Buch has worked with Bristlecone and Hindustan Unilever before working with Blackstone. He earned a bachelor’s degree in mechanical engineering from the Indian Institute of Technology. He was a board member of Unilever Asia Private Limited and Hindustan Unilever and a chairman of Unilever Nepal, as the website reported.
