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Hindenburg-Adani saga: Who is Madhabi Puri Buch? Who is Dhaval Buch?
Sebi chairperson Madhabi Puri Buch and her husband Dhaval Buch dismissed the Hindenburg's allegations as baseless, asserting their finances are transparent.
US-based firm Hindenburg Research alleged on Saturday that Sebi chairperson Madhabi Puri Buch and her husband Dhaval Buch had stakes in offshore entities involved in the Adani money siphoning scandal.
According to Hindenburg, based on whistleblower documents and other investigations, Madhabi and Dhaval Buch opened an account with IPE Plus Fund 1 in Singapore on June 5, 2015. A declaration by a principal at IIFL claimed that the investment source was "salary" and estimated the couple's net worth at $10 million.
Who is Madhabi Puri Buch?
1. Madhabi Puri Buch took charge as the chairperson of Sebi on March 2, 2022.
2. She previously served as a Whole Time Member at Sebi, overseeing key departments like Market Regulation, Investment Management, and Information Technology.
3. Buch has international experience, having worked as a consultant for the New Development Bank in Shanghai and as the Head of the Singapore office for the private equity firm Greater Pacific Capital. She was the managing director and CEO of ICICI Securities and also served as an executive director on the board of ICICI Bank.
5. Buch holds an MBA from IIM Ahmedabad and a degree in Mathematics from St. Stephen's College, New Delhi.
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Who is Dhaval Buch?
1. Dhaval Buch is a senior advisor at Blackstone and Alvarez & Marsal. He also serves as a non-executive director on the board of Gildan.
2. Buch is an alumnus of the Indian Institute of Technology, Delhi (IIT-D), where he graduated in mechanical engineering in 1984.
3. He held the position of executive director at Unilever and eventually became the company's chief procurement officer.
4. Buch describes himself as having deep experience in procurement and all aspects of the supply chain.
Our life and finances are an open book: Buchs
Sebi chairperson Madhabi Puri Buch and her husband on Saturday issued a joint statement to dismiss the Hindenburg's allegations as baseless, asserting their finances are transparent.
"We would like to state that we strongly deny the baseless allegations and insinuations made in the report," the Buchs said.
ALSO READ- SEBI chief, husband deny allegations in Hindenburg report: 'Our finances are an open book'
"The same are devoid of any truth. Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years," the statement said.
