Aug 12, 2024 04:12 PM IST
Vijay Kedia took a dig at Hindenburg and expressed skepticism about the effectiveness of the approach used for the report.
Ace investor Vijay Kedia reflected on Hindenburg’s report which tied Sebi chief Madhabi Puri Buch to Adani Group. The US short seller claimed that Madhabi Puri Buch and her husband held stakes in offshore funds tied to Adani Group. Taking to X (formerly Twitter), he took a dig at Hindenburg and expressed skepticism about the effectiveness of the approach used for the report.
Using a verse to illustrate his point, Vijay Kedia wrote, “Turns out, the Hindenburg wasn’t so smart, Its blackmail plan fell apart, So now it’s remembered, not for its threats, But for going down in a fiery mess.”
Hindenburg published a report claiming that the Buchs had stakes in Bermuda and Mauritius-based offshore funds used by Gautam Adani’s brother Vinod Adani “to amass and trade large positions in shares of the Adani Group”.
Citing whistleblower documents the report claimed that the Buchs appeared to have opened their account with IPE Plus Fund 1 on June 5th, 2015 in Singapore. Sebi chief, however, dismissed the allegations made by Hindenburg as “baseless.”
“In the context of allegations made in the Hindenburg Report dated August 10, 2024 against us, we would like to state that we strongly deny the baseless allegations and insinuations made in the report. The same are devoid of any truth. Our life and finances are an open book,” the Buchs said in the statement.