The Lokpal on Wednesday of alleged financial irregularities against former Securities and Exchange Board of India chief Madhabi Puri Buch based on a report by American short-seller Hindenburg Research, PTI reported.
The anti-corruption ombudsman concluded that the allegations in the complaints were based on “presumptions and assumptions and not supported by any verifiable material”.
The Lokpal added that the complaints, including the one by , filed last year were based on the report “by a known short seller trader whose focus was to expose or corner Adani Group of Companies”, the news agency reported.
The allegations will not “attract the ingredients of the offences…so as to direct an investigation”, the order by a six-member bench headed by Lokpal Chairperson Justice AM Khanwilkar was quoted as saying.
Madhabi Buch had assumed charge as the chairperson of the Securities and Exchange Board of India in March 2022. Her tenure ended on February 28.
The allegationsOn August 10, Hindenburg Research alleged that the SEBI chief and her husband Dhaval Buch had “hidden stakes” in offshore entities tied to stock price manipulation and money laundering by the Adani Group. Madhabi Buch and Dhaval Buch .
This came 18 months after the United States-based firm accused the Adani Group of engaging in accounting fraud...
-
Magnesium Deficiency Symptoms: Can magnesium deficiency lead to infertility – here’s what we know
-
Guava is most effective in constipation and piles
-
Should Mehndi plant be planted in the house or not? What does Vastu Shastra say?: Mehndi Plant Vastu Tips
-
If you are troubled by acne, apply these 7 face oils, you will get smooth and glowing skin: Face Oils for Acne
-
What is the cost of uPVC windows in Bangalore?
