Mumbai court orders FIR against ex-Sebi chief Madhabi Puri Buch, 5 others

 In August last year, now-defunct short-seller Hindenburg Research claimed that Madhabi Buch and her husband Dhaval Buch had undisclosed investments in offshore entities linked to the Adani Group.

 According to Hindenburg, Buchs held stakes in Bermuda and Mauritius-based funds allegedly connected to Vinod Adani, the brother of Gautam Adani.

These investments purportedly occurred before Buch's tenure at Sebi but were not disclosed during her regulatory role, raising concerns about potential conflicts of interest in Sebi's investigations into the Adani Group.

 In response, Buch and her husband strongly denied these allegations, labelling them as baseless and asserting that their finances are transparent and compliant with all disclosure requirements.