Hindenburg Research has accused SEBI Chairperson Madhabi Puri Buch of involvement in offshore funds, conflicts of interest, and opaque financial dealings. Key allegations include:
Offshore Fund Ties: Buch and her husband allegedly held stakes in Bermuda and Mauritius funds linked to Vinod Adani, with Buch reportedly using her private email for fund transactions while at SEBI.
Financial Opacity: Buch owned an offshore Singaporean consulting firm during her SEBI tenure, later transferring it to her husband, raising transparency concerns.
Conflict of Interest: The report suggests a conflict of interest, with Buch’s husband advising Blackstone while SEBI approved REIT-friendly regulations under her leadership.
Opaque Revenue: Buch’s consulting firm, Agora Advisory, generated significantly more revenue in 2022 than her SEBI salary, raising further transparency issues.
