Allegations against Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI), have raised questions about the integrity of India's market regulator. A report by Hindenburg Research, an American firm, claims that Buch and her husband invested in an offshore fund allegedly used by the Adani Group.
The report suggests that this potential conflict of interest may be causing delays in the investigation of accounting fraud and market manipulation accusations against the Adani Group.
Opposition parties, including the Congress, have called for Buch's resignation and the return of invested funds. They have also demanded an immediate investigation into the allegations against Buch and her husband.
The Indian government has remained silent on these allegations, prompting criticism from opposition parties.
These developments have put SEBI under significant internal and external pressure, potentially affecting India's economic credibility in the global market.
