Sebi head and spouse reject Hindenburg's accusations as unfounded.

Madhabi Puri Buch, the chairman of the Securities and Exchange Board of India (Sebi), and her husband, Dhaval Buch, have strongly denied the allegations levelled against them by short seller Hindenburg. In their statement, the couple asserted that the claims made by Hindenburg are baseless and their financial records are transparent and open for scrutiny.

The Buchs also expressed disappointment over Hindenburg's attempt to assassinate their character in response to the Enforcement action taken by Sebi against the short seller. Hindenburg had alleged that the Buchs had stakes in obscure offshore funds linked to the Adani money siphoning scandal.

In a blogpost, Hindenburg stated that despite providing evidence of Adani's undisclosed web of offshore shell entities, Sebi showed a surprising lack of interest in the matter. It further claimed that Madhabi Buch and her husband had stakes in these offshore funds, citing "whistleblower documents".

Responding to these allegations, the Buchs stated that they strongly deny any wrongdoing and that the claims made by Hindenburg are completely false. They reassured that their finances are an open book and all necessary disclosures have been made to Sebi over the years.

The couple also stated that they are willing to provide any and all financial documents, including those from the time when they were private citizens, to any relevant authority for investigation. They also mentioned that a detailed statement addressing these allegations will be released in due course.

Meanwhile, the Congress party has demanded immediate action from the government to address the conflict of interest in Sebi's investigation of the Adani Group. They also called for a Joint Parliamentary Committee to investigate the full extent of the scam, expressing concern over the possible involvement of high-ranking officials.

In conclusion, the Buchs have vehemently denied the allegations made against them and have reassured the public of their transparency and willingness to cooperate with any investigation. The controversy surrounding the Adani Group and Sebi's actions continues to be a topic of discussion and concern for many.

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