The allegations levelled by Hindenburg against the SEBI chairperson highlight a pertinent issue—Buch’s conflict of interest may be coming in the way of her job.
India’s market watchdog has received what is possibly the most unlikely response to a show-cause notice.
Confused? Let’s bring you up to speed here.
On 2 July, Hindenburg Research said it had received a show-cause notice from the Securities and Exchange Board of India over alleged violations in placing bets on stocks of Adani group companies. The US-based short-seller had attracted SEBI’s attention after it published a damning report against the conglomerate in January last year.
On Saturday, Hindenburg published a new report saying that SEBI chairperson Madhabi Puri Buch and her husband, Dhaval Buch, had allegedly invested in offshore …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi