The Adani vs. Hindenburg controversy, which many believed had reached its conclusion, has taken a new turn. The whistleblower, known for making money by short-selling shares and bonds of targeted companies, has introduced fresh allegations that have reignited the saga.
New Allegations
The whistleblower has now claimed that Madhabi Puri Buch, the current chief of the Securities and Exchange Board of India (SEBI), and her husband allegedly had stakes in offshore entities linked to the Adani family. This revelation adds a new dimension to the ongoing controversy surrounding Adani and Hindenburg.
Previous Actions by SEBI
These allegations come just one-and-a-half months after SEBI issued a show-cause notice to Hindenburg. The notice accused Hindenburg of violating Indian market regulations and profiting by taking short positions. This action by SEBI was a significant move in the ongoing investigation and regulatory measures surrounding the case.
Conclusion
The new claims against SEBI’s chief add complexity to the already intricate Adani vs. Hindenburg controversy. As the situation unfolds, it remains to be seen how these allegations will impact the ongoing investigations and the broader market dynamics.
