If you have a scandal involving the chair of the security, we have to take very very seriously, added Geltrude
US short-seller Hindenburg Research alleged that Sebi chairperson Madhabi Puri Buch and her husband had stakes in obscure offshore funds used in the Adani money siphoning scandal. Eminent business and tech analyst, and economist Daniel Geltrude said ‘’the allegations can destroy investor confidence & corruption involving offshore funds can erode foreign inflows.’’
He also added that the Sebi chairperson should resign. “I think there’s a real concern here because if the chair is actually linked to this situation, it’s going to destroy investor confidence in India… People are going to be skeptical so if you have a scandal involving the chair of the security gate standard, well, that’s something we have to take very very seriously,” added Geltrude.
‘Hindenburg Attacking Sebi’s Credibility’ Buch
US-based short-seller Hindenburg Research is attacking capital markets regulator Sebi’s credibility and attempting a character assassination of its chief, Madhabi Puri Buch and her husband Dhaval said on Sunday.
In a detailed statement issued this evening, the Buchs clarified on the raft of allegations made by Hindenburg in a report on Saturday.
“They have chosen to attack the credibility of Sebi and attempt character assassination of the Sebi chairperson,” the statement said.
Hindenburg had alleged that it suspects Sebi’s unwillingness to act against Adani Group may be because Madhabi had stakes in offshore funds linked to the conglomerate. The Buchs had immediately termed the allegations “baseless” in an early morning statement.
While Madhabi serves as the chairperson of Sebi, her husband is a senior advisor with Blackstone.
(With Inputs From PTI)