Hindenburg Research, an American short-selling group that caused a ruckus and unleashed a tsunami that bankrupted one of the country’s largest corporations, has made a new set of allegations. This time, the accusations are not only against the company, but also against the markets regulator SEBI and its chief Madhabi Puri Buch.
Hindenburg’s new revelations
In its latest revelation, the group accused the SEBI chairperson and her relatives, in this case her husband Dhaval Buch, of having a personal interest in the company and its affairs during the investigation into the company. In fact, Hindenburg even specifically claims that Buch has shares in one of Adani’s offshore companies.
However, the SEBI chief has denied these allegations.
Amidst all this chaos, some X users complained that the market regulator, i.e. the official X account (formerly Twitter) of the Securities and Exchange Board of India, known as “Awareness” or “SEBI_India”, had been protected or turned into a private account.
Some X users raised this issue after the Hindenburg Report came out.
Locking or protecting the account will prevent any other accounts that do not follow that account from responding or interacting with the account.
Has the account been blocked?
Opposition MP Karti Chidambaram raised the issue and said, “How can a public body do such a thing? @SEBI_India”.
However, it should be noted that many other X users have claimed that this account is an inactive account and it has been inactive since 2020.
Fact-checker Mohammaed Zubair also confirmed this fact, saying that this account had been blocked long before the recent developments in the Hindenburg case.
The research group had previously accused the group of violating the country’s trade and security regulations in order to gain more access to the company. According to Hindenburg, this was done through offshore shell companies that were allegedly owned by relatives of the company, who thus controlled assets in Indian branches.
Many have reacted to the matter; the SEBI chief herself has accused Hindenburg of a “character assassination campaign”.
