Mahua Moitra, Madhabi Puri Buch (ANI)
New Delhi: Following the release of another Hindenberg report which has launched a sensational allegations of money-laundering with possible involvement of SEBI chairperson Madhabi Puri Buch and her husband Dhawal Bhuj of hatching a conspiracy to navigate funds for the Adani Group. Following this, Trinamool Congress MP Mahua Moitra posted a video on her official X handle asking two important questions. She enquires why did Madhabi Puri Buch did not disclosed and recused herself from being linked for an absolute conflict of interest leading to the alleged scam hatched by the Adani Group.
This is Mahua Moitra, Member of Parliament Lok Sabha. I am here to point out a few interesting facts about the recent Hindenburg Report expose into Madhabi Puri Buch and her role in SEBI.
In 2015, Madhabi Puri Buch and her husband Dhawal Buch jointly invested into a fund which was used by Vinod Adani, the older brother of Gautam Adani to round-trip funds into India.
In February 2017, Madhabi Puri Buch transferred these assets of the fund from a joint account into that of her husband Dhawal Bhuj.
In March 2017, Madhabi Puri Buch became a full-time, a whole-time member of the SEBI.
In April 2019, the US firm Black Stone approved a gained approval from the SEBI to the first ever real-estate investment trust REITS into India.
In July 2019, as a quid-pro-quo, Madhvi's husband Dahwal Bhuj was appointed as a senior advisor on a fat salary to Blackstone.
In March 2022, Madhabi Puri Buch was appointed as chairperson of SEBI. Apparently, according to market rumours, Sudhir Mankar was the first cousin of Dhawal Bhuj. He served as chief secretary of Gujarat under Prime Minister Modi when he was chief minister of Gujarat, played a pivotal role in the appointment.
In 2023-24, when the Supreme Court ordered SEBI, for a report into the Adani scandal. SEBI, under the chairmanship of Madhabi Puri Buch came back and said that they had drawn a blank. It was a chicken and egg situation and they were unable to tell the ultimate owners of the FPR.
Now two questions, madam Mahavi Puri in 2015 you have invested into this very FPR, that you now claim that you have no idea about the ultimate ownership.
In 2018, you had personally corresponded with this particular fund in your own personal capacity. When the enquiry report started in 2023-2024, should you not have disclosed this? Should you not have recused yourself and how could you possibly say that you no nothing about this fund?
How can the SEBI summon an overseas fund Hindenburg , when it is completely ignoring the role of the FPRs. These are very important questions, we demand the immediate resignation of Madhabi Puri Buch as chairperson of SEBI and we demand that the Supreme Court reopen an investigation into this and a Supreme Court appointed SIT to look into this with no delay.
Some pertinent facts about Chairperson SEBI’s investment in a multi tier opaque fund to prevent transparency- she needs to resign NOW! pic.twitter.com/lmHNM69m7g
— Mahua Moitra (@MahuaMoitra) August 11, 2024
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