Madhabi Puri Buchs consulting firm illegally accepted payments from listed entities, alleges Hindenburg Research
Hindenburg Research levelled a fresh set of charges on Wednesday accusing a private consulting entity owned by her of accepting payments from multiple listed companies regulated by the market watchdog during her time as its whole-time member.
Amid a barrage of serious allegations against Madhabi Puri Buch’s leadership at SEBI, including conflict of interest and misuse of power, the US-based research firm Hindenburg Research leveled a fresh set of charges on Wednesday. They accused a private consulting entity owned by Buch of accepting payments from multiple listed companies regulated by SEBI during her tenure as a whole-time member. The consulting entity, which is 99 percent owned by Buch and based in India, was mentioned in a post by Hindenburg Research on the microblogging site X (formerly Twitter).
Hindenburg attacking Sebi credibility, indulging in character assassination attempt of its chairperson, say Buchs
Hindenburg Research also questioned Buch’s "complete silence" on these pressing issues.
"Buch has maintained her silence for weeks on all emerging issues," Hindenburg wrote on Wednesday.
Many financial experts have raised serious concerns about Buch's conduct during her tenure at SEBI.
Last month, former Finance Secretary SC Garg stated in an exclusive interview with Zee Business that Buch should step down, as the recent developments are "not good for the reputation" of the country’s market regulator. He believes the government should investigate the matter closely.
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