“Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandal”:
Adani Group Allegations: The Adani Group faced allegations related to a massive corporate fraud involving offshore shell entities.
SEBI’s Inaction: Despite evidence and media investigations, the Indian securities regulator SEBI has not taken public action against the Adani Group.
SEBI’s Notice: SEBI sent a notice to Hindenburg Research, questioning their report’s disclosure and labeling it “reckless.”
SEBI Chairperson’s Involvement
Madhabi Buch: While serving as SEBI’s Chairperson from April 2017 to March 2022, she held a 100% interest in an offshore Singaporean consulting firm called Agora Partners.
Transfer of Shares: Shortly after her appointment as Chairperson, Buch quietly transferred the shares to her husband.