Hindenberg Report: Who is Madhabi Puri Buch? SEBI Chief Allegedly Involved in ‘Adani Money Siphoning Scandal’

Hindenburg Report: Citing “whistleblower documents,” a US bearish investor has released a new report alleging that Securities and Exchange Board of India (SEBI) chairwoman Madhabi Puri Buch and her husband Dhaval Buch had stakes in little-known offshore funds that were used in the Adani “money-siphoning scandal.”

However, SEBI chief Madhabi Puri Buch and her husband Dhaval Buch strongly denied the allegations made by Hindenburg Research in a joint statement issued today.

The pair reportedly secretly held stakes in shady funds based in Bermuda and Mauritius that were integrated into a complex financial structure used by Adani Group. (Also read: New Hindenburg Report: Who Is SEBI Chief’s Husband Dhaval Buch Allegedly Linked to Adani Money Siphoning Scandal?)

Who is SEBI Chief Madhabi Puri Buch?

Madhabi Puri Buch, born in 1966, is the current chairwoman of SEBI and the first woman to hold the position. She is a graduate of Fort Convent School, Mumbai, and Convent of Jesus and Mary, Delhi. She graduated from St. Stephen’s College, Delhi, with a major in mathematics, and later did an MBA from IIM Ahmedabad.

Madhabi started her career with ICICI Bank and later joined ICICI Securities. She served as an executive director at ICICI Bank for 12 years and was the managing director and CEO of ICICI Securities from February 2009 to May 2011.

. She has held various positions over the years, including a stint at BRICS New Development Bank. She is married to Dhawal Bucha and they have a son named Abhay. (Also read: Is a stock market crash coming? Hindenburg report reveals SEBI chief’s alleged role in Adani scandal)

In April 2017, Madhabi was appointed as a full-time director at SEBI. After completing her term, she was elected to a seven-member technical committee to help design SEBI’s internal technology systems.