Hindenburg Research, an American short-selling group that created an uproar and brought about a tsunami that wrecked one of the biggest corporations, has launched another tranche of accusations. This time the accusations are not just against the company but against the market regulator SEBI and its chief, Madhabi Puri Buch.
Hindenburg’s New Revelations
NEW FROM US:
Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandalhttps://t.co/3ULOLxxhkU
— Hindenburg Research (@HindenburgRes) August 10, 2024SEBI Orders Karvy Stock Broking And CMD C Parthasarathy To Pay ₹25 Crore Over Misappropriation Of Client Funds
In its latest revelation, the group has accused the SEBI chairperson and her kin, in this case, her spouse, Dhaval Buch, of having a vested interest in the company and its affairs as the company was being investigated. In fact, Hindenburg goes on to specifically claim that Buch had stakes in one of Adani’s offshore entities.
The SEBI chief, however, has denied these allegations.
Amidst all this chaos, some X users complained that the market regulator, i.e., the Securities and Exchange Board of India’s official X (formerly Twitter) account, which goes by the handle “Awareness” or “SEBI_India,” has been protected or has been turned into a private account.
How can a public body do this? @SEBI_India pic.twitter.com/2rGEyo00fH
— Karti P Chidambaram (@KartiPC) August 10, 2024 ‘After 10 Years Of NDA, This Is Not Acceptable’: Infosys Ex-CFO Mohandas Pai Bemoans EPFO Woes
Some X users raised this issue after the Hindenburg report came out.
Locking or protecting the account forbids any other accounts that do not follow it to reply or interact with the account.
Has The Account Been Locked?
Opposition MP Karti Chidambaram raised the matter and said, “How can a public body do this? @SEBI_India”.
This Sebi @SEBI_India account wasn’t locked today. But from many months. pic.twitter.com/LApLcfyeWk
— Mohammed Zubair (@zoo_bear) August 10, 2024
However, it is to be noted that many other X users have claimed that this account is a dormant account and has been inactive since 2020.
Fact-checker Mohammaed Zubair also corroborated this fact, and said that this account had been locked long before the recent Hindenburg developments.
Previously, the research group had accused the corporation of violating the country’s trading and security rules to gain greater accsuess to company. This, according to Hindenburg, was done through off-shore shell companies, which were allegedly owned by the company’s kin, who thereby controlled assets in Indian operations.
Many have reacted to the matter; the SEBI chief herself has accused Hindenburg of ‘character assassination’.
