Hindenberg Report: Who Is Madhabi Puri Buch? The SEBI Chief Allegedly Involved In 'Adani Money Siphoning Scandal'

SEBI Chief Madhabi Puri Buch served as an executive director at ICICI Bank for 12 years and was the Managing Director and CEO of ICICI Securities from February 2009 to May 2011.

SEBI Chief Madhabi Puri Buch

Hindenburg Report: Citing 'whistleblower documents', the US-based short-seller has released a fresh report which claims that chairperson of market regulator SEBI (Securities and Exchange Board of India) Madhabi Puri Buch and her husband Dhaval Buch had stakes in obscure offshore funds used in the Adani 'money siphoning scandal'.  

However, the SEBI chief Madhabi Puri Buch and her husband Dhaval Buch strongly denied the allegation levelled by Hindenburg Research in a joint statement issued today. 

According to reports, the couple secretly held stakes in obscure funds based in Bermuda and Mauritius, which were integrated into a complex financial structure utilized by the Adani Group.

Who Is SEBI Chief Madhabi Puri Buch?

Madhabi Puri Buch, born in 1966, is currently the chairperson of SEBI, and the first woman to hold this position. She completed her schooling at Fort Convent School in Mumbai and Convent of Jesus and Mary in Delhi. She graduated from St. Stephen's College, Delhi, with a specialization in mathematics, and later earned an MBA from IIM Ahmedabad.

Madhabi began her career at ICICI Bank and later joined ICICI Securities. She served as an executive director at ICICI Bank for 12 years and was the Managing Director and CEO of ICICI Securities from February 2009 to May 2011. 

. Over the years, she has held various roles, including working with the BRICS New Development Bank. She is married to Dhawal Buch, and they have a son named Abhay.

In April 2017, Madhabi was appointed as a whole-time director at SEBI. After her tenure, she was selected to serve on a seven-member tech committee to help design SEBI's in-house technological systems.