Mumbai, August 11. The Association of Mutual Funds in India (AMFI) on Sunday strongly criticised the recent Hindenburg report against SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch, saying the US short seller was trying to create a trust deficit in the market ecosystem.
In a statement, AMFI said that external comments about the chairman of the market regulator “not only seek to undermine Madhabi Buch’s contribution to the Indian capital market, but also undermine our country’s economic progress and create a trust deficit in the market ecosystem. They must be seen for what they really are: attempts to create a sensation by linking coincidental events from the past.”
The mutual fund industry association warned that if the allegations were not investigated, they could create unnecessary hurdles for the world’s fastest-growing economy.
“Hindenburg’s allegations lack context and understanding of the Indian regulatory environment,” AMFI said, adding that the report also “attempts to denigrate our nation’s hard-won achievements.”
The AMFI further said that the market structure in India was “strong”.
“Over time, the regulator has taken several measures under the current leadership of SEBI Chairman to create a well-functioning market that is trusted by both local and global investors,” the industry body said.
According to IMFI, under the leadership of the current SEBI Chairman, several important measures have been taken and SEBI regulations have made mutual funds the most transparent and effective product.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor.
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