New Allegations Surface Against SEBI Chairperson Madhabi Puri Buch and Husband Dhaval Buch

Hindenburg Research Accuses SEBI Chief and Spouse of Links to Offshore Funds Amid Adani Group Controversy

Date: August 11, 2024 :On August 10, 2024, Hindenburg Research, the American short-selling firm renowned for its impactful financial reports, released a new set of allegations against Madhabi Puri Buch, the chairperson of India’s Securities and Exchange Board of India (SEBI), and her husband, Dhaval Buch. This latest revelation has reignited controversy following Hindenburg’s previous report, which severely impacted the Adani Group’s financial standing.

New Allegations from Hindenburg
Hindenburg Research’s latest report accuses Madhabi Puri Buch and her husband of having interests in offshore companies allegedly linked to financial irregularities involving the Adani Group. These claims have prompted a fresh wave of scrutiny and debate within India’s financial and regulatory communities.

Profile of Madhabi Puri Buch
Madhabi Puri Buch, born in 1966, made history as the first female chairperson of SEBI, assuming the role on March 1, 2022. She succeeded Ajay Tyagi. Her academic background includes a degree in Mathematics from St. Stephen’s College, Delhi, and an MBA from IIM Ahmedabad. Buch’s career spans roles as a director at several major firms and as a consultant at the New Development Bank in Shanghai.

Salary and Net Worth
Though the exact salary of Madhabi Puri Buch has not been officially disclosed, estimates suggest she earns approximately ₹3 lakh per month, equating to an annual salary of over ₹36 lakh.

Dhaval Buch’s Profile
Dhaval Buch, Madhabi’s husband, serves as a senior advisor at Blackstone and Alvarez & Marsal and is a board member at Gildan. He holds a degree in Mechanical Engineering from IIT and has held prominent roles, including as an executive director at Unilever. Dhaval and Madhavi married in 1987, and the couple has a son, Abhay.

Background and Education
Madhabi Puri Buch’s educational journey began at Fort Convent School in Mumbai and the Convent of Jesus and Mary in Delhi. She later pursued higher education in Mathematics at St. Stephen’s College and earned her MBA from IIM Ahmedabad.The new allegations from Hindenburg Research have intensified the scrutiny surrounding the Adani Group and its financial dealings. As investigations continue, both Madhabi Puri Buch and Dhaval Buch are facing heightened public and media attention.

The information provided is based on current reports and ongoing investigations. Legal outcomes and further developments are pending.