Our Bureau
Mumbai
Madhabi Puri Buch, the former Chief of Securities and Exchange Board of India (SEBI), can finally breathe a sigh of relief. The Lokpal of India has finally given her a clean chit on all the three complaints that were filed against her allegedly for corruption. There were also some allegations against her that she might’ve attempted favouritism in regulatory matters.
It was reported that the Lokpal said that there was no credible evidence found against the former chief. He said that there was no sign of any “undue advantage” or “quid pro quo”. The allegations were regarding giving undue advantages to the Adani group, these allegations piqued interests after the Hindenburg report was made public.
However, the Lokpal dismissed the report and suggested that it was not a reliable piece of evidence and was not sufficient enough to base a corruption case. He deemed that all the allegations were completely baseless and can’t be held up against the former SEBI Chief.
In his report Hindenburg made serious allegations on Madhabi and her husband Dhaval Buch both had connections with the Adani corporation. The report had stated that the pair had stakes in obscure offshore entities used in the Adani money siphoning scandal.
The SEBI chief and her husband however have completely denied the allegations and have termed it as false, incorrect, malicious and motivated against her. Adani has also claimed that the revelations made in the reports are false and of malicious intent. These allegations according to Adani are just facts that Hindenburg has just manipulated and anyone can check them as they are already in the public eye.
