Mumbai: SEBI Chairman Madhabi Puri Buch and her husband Dhaval Buch have firmly dismissed the latest report from Hindenburg Research, labelling it as "baseless allegations and insinuations."

The SEBI Chairman  described the report as an attempt at "character assassination" following SEBI's action against the short-seller.

In July, SEBI identified violations by Hindenburg and its sole beneficial owner, Nathan Anderson, under the SEBI Act, as well as SEBI's regulations on the Prevention of Fraudulent and Unfair Trade Practices and the Code of Conduct for Research Analysts.

The SEBI chief also stated that she and her husband are prepared to disclose any financial documents if requested by the authorities.

Here's the full statement:

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.

It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same. 

Madhabi Puri Buch

Dhaval Buch