"Hindenburg Chose Character Assassination...": SEBI Chief And Husband's Statement

SEBI chief Madhabi Puri Buch and husband Dhaval Buch have said US short seller Hindenburg Research has attempted character assassination of the SEBI chairperson, instead of replying to the show cause notice for rule violations in India.

"The investment in the fund referred to in the Hindenburg report was made in 2015 when they were both private citizens living in Singapore and almost two years before Madhabi joined SEBI, even as a Whole Time Member," the Buchs said in a statement today.

"The decision to invest in this fund was because the Chief Investment Officer, Anil Ahuja, is Dhaval's childhood friend from school and IIT Delhi and, being an ex-employee of Citibank, JP Morgan and 3i Group plc, had many decades of strong investing career," they said.

"As confirmed by Anil Ahuja, at no point in time did the fund invest in any bond, equity, or derivative of any Adani group company..." the couple said.

"Hindenburg has been served a show cause notice for a variety of violations in India. It is unfortunate that instead of replying to the show cause notice, they have chosen to attack the credibility of the SEBI and attempt character assassination of the SEBI Chairperson," they said.

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