Mumbai, August 11: US short-seller Hindenburg Research’s allegations against SEBI chief, Madhabi Puri Buch, kicked up a storm after the firm claimed that the SEBI chief held stake in Adani-linked funds. Though the SEBI chief in her defense, termed the allegations as “baseless”, the matter dominated headlines across the media even on a day when the markets in India are closed. With the SEBI chief, Madhabi Puri Buch and her husband Dhaval Buch facing the allegations, a post by an astrology handle “Jupiter Astrology” predicted more trouble for the SEBI chief.
“T-0674…@SEBI_India Chairman, Madhabi Puri Buch will resign or sacked soon. Her date of birth is Jan 12, 1965. As per Nadi method she is in for major trouble @HindenburgRes @gautam_adani @AdaniOnline @madhabibuch, (sic)” read the post by the astrologer who is known to make bold predictions.
The handle “Jupiter Astrology” is run by Sundar Balakrishnan, a professor of Astrology at the Bharatiya Vidya Bhavan (BVB).
T-0674…@SEBI_India Chairman, Madhabi Puri Buch will resign or sacked soon. Her date of birth is Jan 12, 1965. As per Nadi method she is in for major trouble @HindenburgRes @gautam_adani @AdaniOnline @madhabibuch
— Jupiter Astrology (@jupiter_astro) August 10, 2024
In fact, the handle had also predicted more trouble for the Adani group in previous handles before the latest Hindenburg Research report.
T-0635…@gautam_adani Adani Companies will get into controversies between Sept – Nov 2024. This will be something bigger than the past. This is as per his chart.
— Jupiter Astrology (@jupiter_astro) July 14, 2024
This is one more tweet of mine on Sept 4, 2022 https://t.co/S6AkF2WlFZ
— Jupiter Astrology (@jupiter_astro) August 10, 2024
In the past, he is known to have correctly predicted several events such as Tamil Nadu BJP chief Annamalai losing the 2024 general elections apart from other predictions.
@annamalai_k lost in elections. Another prediction of mine proved.
— Jupiter Astrology (@jupiter_astro) June 4, 2024
What Are Allegations Made By Hindenburg Research Against SEBI Chief?
The Hindenburg Research event alleged that it suspects SEBI’s unwillingness to act against Adani group may be because of its head Madhabi Puri Buch had stakes in offshore funds linked to the conglomerate.
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, 2024
What Did Madhbai Puri Buch Say About Allegations?
The allegations have been slammed by the SEBI head as “baseless”. In a joint statement, Madhabi Puri Buch and her husband strongly denied the allegations, stating, “In the context of allegations made in the Hindenburg Report dated August 10, 2024, against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth.”
“Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. Further, in the interest of complete transparency, we would be issuing a detailed statement in due course,” read the full statement.
What Did Adani Say About Latest Allegations?
The Adani group rubbished the claims and said it never had any commercial relations with Buch.
“The latest allegations by Hindenburg are malicious, mischievous and manipulative selections of publicly available information to arrive at pre-determined conclusions for personal profiteering with wanton disregard for facts and the law. We completely reject these allegations against the Adani Group which are a recycling of discredited claims that have been thoroughly investigated, proven to be baseless and already dismissed by the Hon’ble Supreme Court in March 2023,” stated the statement by Adani group.
Politics Over The Matter
The latest Hindenburg Research claims ignited yet another round of Congress led Opposition vs the government battle over the issue.
The Congress said that the revelations only reinforced its demand for setting up a “joint parliamentary committee to investigate the full scope of the Adani mega scam” while the Trinamool Congress said the SEBI chairperson must resign.
The SEBI account on Twitter is locked, and therefore inaccessible to the general public. Some reports suggest it may have been locked for a while, but this continued inaccessibility – at a time when evidence of conflict of interest by its top leadership has come out – is… pic.twitter.com/X4aswnlEhh
— Jairam Ramesh (@Jairam_Ramesh) August 11, 2024
“This raises fresh questions about Gautam Adani’s two 2022 meetings in quick succession with Ms Buch shortly after she became SEBI chairperson. Recall that SEBI was supposedly investigating Adani transactions at the time,” Congress leader Jairam Ramesh said.
SEBI had previously cleared Adani, a close associate of PM Modi, before the Supreme Court following the January 2023 Hindenburg Report revelations.
However, new allegations have surfaced regarding a quid-pro-quo involving the SEBI Chief.
The small & medium investors belonging…
— Mallikarjun Kharge (@kharge) August 11, 2024
Congress President Mallikarjun Kharge also made a demand for a “Joint Parliamentary Committee (JPC) inquiry” adding that “it is imperative to investigate this massive scandal.”
