Just when it seemed like the Adani vs Hindenburg controversy was settling down, Hindenburg, a whistleblower known for profiting from short-selling shares, stirred things up again. This time, they've accused SEBI chief Madhabi Puri Buch and her husband of having stakes in offshore entities connected to the Adani family.
These new claims come about six weeks after SEBI issued a show-cause notice to Hindenburg, accusing them of breaking Indian market rules and making money through short-selling.
SEBI in Limelight
With these new accusations, India's stock market regulator, SEBI, is once again in the spotlight. Established on April 12, 1988, the Securities and Exchange Board of India (SEBI) was initially tasked with developing and overseeing the securities and commodities markets in the country. Over the years, SEBI has grown from a simple executive body into a powerful regulatory authority with legal clout, shaped by the leadership of several dynamic figures.
Hindenburg Work Model
Hindenburg Research is a small US-based firm started in 2017 by Nathan Anderson. The firm uses financial investigations to uncover problems in major companies.
Hindenburg has previously looked into companies like Nikola, Clover Health, Block Inc, Kandi, and Lordstown Motors.
Their approach is straightforward: they release reports to clients before the public sees them. Clients then use this information to bet against the companies' stocks. When the stock prices drop after the report is made public, both Hindenburg and its clients make money.
ALSO READ: Hindenburg Report: Top 6 Allegations on SEBI Chaiperson Madhabi Puri Buch
List of Chairpersons of SEBI:
Check the following table to know the name and tenure of all SEBI chairpersons:
| S. No. | Chairman | Tenure |
| 1 | Dr. S.A. Dave | 12th April 1988 to 23rd August 1990 |
| 2 | Shri G.V. Ramakrishna | 24th August 1990 to 17th January 1994 |
| 3 | Shri S.S. Nadkarni | 17th January 1994 to 31st January 1995 |
| 4 | Shri D.R. Mehta | 21st February 1995 to 20th February 2002 |
| 5 | Shri G.N. Bajpai | 20th February 2002 to 18th February 2005 |
| 6 | Shri M. Damodaran | 18th February 2005 to 18th February 2008 |
| 7 | Shri C.B. Bhave | 19th February 2008 to 17th February 2011 |
| 8 | Shri U.K. Sinha | 18th February 2011 to 01st March 2017 |
| 9 | Shri Ajay Tyagi | 01st March 2017 to 28th February 2022 |
| 10 | Madhabi Puri Buch | 28th February 2022 – Incumbent |
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