SEBI Head Counters Conflict Allegations Amid Adani Probe Controversy

Madhabi Puri Buch, head of India's market regulator SEBI, has rejected allegations of conflict of interest made by a U.S. short seller and opposition political parties. Buch argues that she has consistently complied with disclosure guidelines. The accusations relate to investigations involving the Adani Group and other corporate entities.

Madhabi Puri Buch, the head of India's Securities and Exchange Board (SEBI), has vehemently denied allegations of conflict of interest made by the opposition Congress Party and financial research firm Hindenburg Research. Buch asserts her compliance with all SEBI guidelines.

Hindenburg Research has accused Buch of having prior investments in a fund linked to the Adani Group, compromising her objectivity in current investigations. Meanwhile, Congress alleges conflicts involving her former employer ICICI Bank and consultancy fees from Mahindra Group and Dr. Reddy's.

Buch's response came in a personal statement, rebutting all accusations and questioning the manner in which her income tax returns were obtained. As the situation unfolds, the government remains silent, and the Congress Party has yet to provide further comments.

(With inputs from agencies.)