Adani companies face fresh scrutiny as mutual funds invest ₹41,814 crore. New claims arise against Sebi Chairperson and her husband. Both deny the accusations.
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Mutual funds in India have heavily invested in Adani companies, totaling ₹41,814 crore, according to a recent report from Moneycontrol. Adani Ports attracted the most investment, with ₹13,024.22 crore spread across 111 funds. Adani Enterprises followed with ₹7,291 crore in investments.
These investments are drawing attention after the release of a new report by Hindenburg Research LLC, a US-based short seller. The report, based on whistleblower documents, claims links between Sebi Chairperson Madhabi Puri Buch and her husband Dhaval Buch to offshore funds tied to what Hindenburg calls the "Adani money siphoning scandal."
The claims suggest that the Buch family-owned stakes in these offshore funds, raising concerns about possible conflicts of interest. The timing of the report has put Adani companies under the spotlight, especially given the large investments made by mutual funds.
In response to these claims, both Madhabi Puri Buch and her husband have strongly denied the accusations. They called the claims "baseless" and an attempt at "character assassination." The couple insists that they have no connection to the offshore funds mentioned in the Hindenburg report.
As this situation unfolds, Adani companies remain a key focus for investors and regulators. The Hindenburg report has caused significant controversy, leading to a closer examination of both the Adani Group and the regulatory bodies overseeing these investments. The story continues to develop as more details come out, keeping the financial community on alert.
