US short-seller Hindenburg Research in August alleged that it suspects SEBI's unwillingness to act against the Adani Group may be because of its head Madhabi Puri Buch had stakes in offshore funds linked to the conglomerate - an allegation slammed by the SEBI head as "baseless" while Adani Group said it never had any commercial relations with Buch.
Hindenburg alleged that Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani, the elder brother of group chairman Gautam Adani, to round-trip funds and inflate stock prices.
The TMC had earlier demanded that SEBI chairperson should be suspended.
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US short-seller Hindenburg Research in August alleged that it suspects SEBI's unwillingness to act against the Adani Group may be because of its head Madhabi Puri Buch had stakes in offshore funds linked to the conglomerate - an allegation slammed by the SEBI head as "baseless" while Adani Group said it never had any commercial relations with Buch.
Hindenburg alleged that Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by Vinod Adani, the elder brother of group chairman Gautam Adani, to round-trip funds and inflate stock prices.
The TMC had earlier demanded that SEBI chairperson should be suspended.
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