After Hindenburg Allegations, SEBI Chief's Blackstone Connection Raises New Questions: Report
After Hindenburg Allegations, SEBI Chief's Blackstone Connection Raises New Questions: Report
New Delhi: While Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch had recently issued statements to deny the conflict of interest allegations levelled by Hindenburg Research for having held “stakes in both the obscure offshore funds used in the Adani money siphoning scandal”, there are several unanswered questions about her associations with other companies as well. Buch’s close connections with American private equity major Blackstone raise several questions about conflict of interest, reports The Morning Context. “Blackstone is heavily invested in India. It is the promoter of many companies in India. That [Buch] has recused herself from Blackstone matters isn’t enough given the amount of investment they have in India,” a veteran fund manager, requesting anonymity told The Morning Context. The Blackstone connection has ensured that Hindenburg’s allegations have continued to raise questions and have not slipped away from the headlines. As a result of the allegations, SEBI now will now have to deal with the fact that it has a chairperson who was a high-profile private sector executive before becoming a regulator and the probable conflict of interest that comes with this. Madhabi Puri Buch’s circle of influence is possibly a hindrance to her doing her job as regulator, capital market
