New Hindenburg Report Accuses Indian Regulator of Conflict of Interest with Adani Group

New allegations have surfaced against the Adani Group, implicating India’s Security and Exchange Board (SEBI) chairperson, Madhabi Puri Buch, in a potential conflict of interest. According to a report by Hindenburg Research, Buch and her family had personal investments linked to Adani, raising questions about the impartiality of SEBI’s investigation into the conglomerate’s financial practices. This development adds a new layer to the ongoing scrutiny of Adani’s operations, previously challenged by Hindenburg for alleged stock market manipulation and financial irregularities. The case highlights concerns about corporate governance and regulatory oversight in India, drawing attention to the complex interplay between business interests and financial regulators.

• Hindenburg Research accuses SEBI chairperson Madhabi Puri Buch of having a conflict of interest due to personal investments in Adani-linked funds.
• The allegations suggest a potential compromise in SEBI’s investigation into Adani Group’s alleged fraud and stock market manipulation.
• Hindenburg’s previous reports have criticized Adani’s financial practices, leading to significant controversy and scrutiny from Indian regulators and the Supreme Court.
• Despite SEBI’s investigations, Hindenburg claims that the regulatory body has not taken meaningful action against Adani Group’s alleged misconduct.
• The situation underscores broader concerns about corporate governance, regulatory effectiveness, and the role of short sellers in exposing corporate misconduct.
• Adani Group has not sued Hindenburg globally, despite the damaging allegations, raising questions about the veracity of the claims and the adequacy of regulatory responses.
• The controversy points to a complex network of investments and relationships, suggesting deeper investigations are necessary to fully understand the scope of the alleged misconduct.

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