India's Regulator Faces Storm

This is a Hindenburg news story, published by BBC, that relates primarily to Anil Ahuja news.

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market regulator Securities

BBC

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Hindenburg report: Why India's market regulator Sebi is in the eye of a storm

Summary

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81% Informative

Madhabi Puri Buch is the chief of market regulator Securities and Exchange Board of India .

She is accused of having links with offshore funds used by controversial Adani group.

Both Ms Buch and the Adanis have denied wrongdoing.

The fresh allegations wiped off $ 2.43bn ( 1.9bn ) off Adani Group's market value at end of trading on Monday .

Anil Ahuja was a nominee director of 3i investment fund in Adani Power in 2007-2008 and a director of Adani Enterprises until 2017 .

The Adani Group has "absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing" Hindenburg 's earlier report accusing the Adanis of stock manipulation and accounting fraud 18 months back had seen their companies lose almost $150bn off their market value.

Opposition politicians are also expected to keep raising the issue.

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formal

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English

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