This reaction follows allegations by US short seller Hindenburg Research that SEBI’s reluctance to take action against the Adani Group could be related to Buch’s investments in offshore funds linked to the conglomerate.
AMFI responded to comments made by Buch in a statement, stressing that the remarks “represent an attempt to undermine Buch’s contribution to the Indian capital market” and could harm the country’s economic progress by “sowing distrust in the market.”
AMFI warned that such statements, which “lack the proper context and understanding of India’s regulatory environment,” aim to “denigrate the country’s achievements” and could hamper its growth towards a developed economy.Also read: 360 One says IPE Plus Fund 1 made no investments in Adani Group shares during its tenure from October 2013 to 2019
AMFI assured investors and partners at home and abroad that India’s financial system remains “safe, transparent and with high integrity focused on promoting growth and innovation.” The statement highlighted the strength of India’s market structure and encouraged stakeholders to “remain confident and continue to participate in the country’s growth story.”
Buch has already rejected these accusations as “baseless” and an attempt to “destroy her reputation.” She will probably also comment in detail.
Hindenburg alleged that Buch and her husband owned undisclosed shares in offshore funds that Vinod Adani reportedly used to manipulate share prices.
According to Hindenburg’s recent allegations, Buch and her husband invested in a Bermuda-based Global Opportunities Fund linked to the Adani Group in 2015, before Buch’s appointment as a full-time member of SEBI in 2017 and her subsequent promotion to chair in 2022.
Also read: LIVE updates on the Hindenburg-Adani case
