SEBI Chief Responds to Hindenburg Report

Madhabi Puri Buch, the chairman of SEBI (Securities and Exchange Board of India), has strongly rejected the recent Hindenburg Research report, calling it a "baseless attempt at character assassination." The report, released on August 10, 2024, accused SEBI and its chief of misconduct related to recent regulatory actions against Hindenburg Research and its owner, Nathan Anderson.

In response, Buch and her husband, Dhaval Buch, emphasized that the allegations are false. They stated that all necessary financial disclosures have been made to SEBI over the years and are willing to provide additional documents if required by authorities. They accused Hindenburg Research of retaliating against SEBI's enforcement actions with personal attacks rather than addressing the regulatory concerns.

SEBI had flagged Hindenburg Research for violating various regulations, including those concerning fraudulent practices and the conduct of research analysts. The regulatory body has taken action against the short-seller, which led to the contentious report.

The Buchs assert their commitment to transparency and have promised to release a detailed statement in the future. They regret that Hindenburg Research chose to respond with personal attacks instead of addressing the issues at hand.