Adani Hindenburg Saga 2.0

haldilal said:

Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandal – Hindenburg Research

hindenburgresearch.com hindenburgresearch.com
Click to expand...
A cursory glance, they are making 2 cases; one conflict of interest w/ Adani through her husband and other conflict of interest w/ Blackstone through her husband
& heavily quoting Adaniwatch

3 actually- one more of her ownership in a SG firm

Now first thing that comes to my mind, why would Hindenberg club 3 cases in 1 report and not 3 different reports.
 
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Cheepek said:
A cursory glance, they are making 2 cases; one conflict of interest w/ Adani through her husband and other conflict of interest w/ Blackstone through her husband
& heavily quoting Adaniwatch

3 actually- one more of her ownership in a SG firm

Now first thing that comes to my mind, why would Hindenberg club 3 cases in 1 report and not 3 different reports.
Click to expand...

and with in 3 the loophole of disclosure. if there is one, will need remedy thru policy.
 
Cheepek said:
A cursory glance, they are making 2 cases; one conflict of interest w/ Adani through her husband and other conflict of interest w/ Blackstone through her husband
& heavily quoting Adaniwatch

3 actually- one more of her ownership in a SG firm

Now first thing that comes to my mind, why would Hindenberg club 3 cases in 1 report and not 3 different reports.
Click to expand...

Let me try to decipher:

1) Case 3 is completely bogus, she was owner of a consultancy firm in SG, Agora Capital prior to her relationship with SEBI. She retained ownership while she was a full time member at SEBI (I guess it's allowed). Relinquished and transferred ownership to her husband before she became SBI chief. (Because maybe not allowed)

Ofcourse she's not going to donate her stake in her company to charity.
So this one looks 100% legal and also ethical.

2) Case 1: Madhuri Buch: MB, husband Dhaval Buch: DB,
MB (SEBI whole time member): 2017-2021, MB (SEBI chief): 2022-

MB, DB invest in a fund IPE Fund 1 in 2015 through IIFL. Client name MB & DB.

In 2017, before she became a SEBI member; client name and ownership changed to DB only.

In 2018, MB closes the accounts and redeems the units in her funds amount to ~870k USD with a performance of -0.02%

Screenshot_20240810-232613.jpg

Allegation- IPE Fund 1 was used by Adani & Co to allegedly route money, so MB, DB are also tainted.
Big claim- no proof. Where are the gains?
All those who invested in IPE Fund 1 have a conflict of interest with Adani? Bullshit

3) Case 2: DB employed as Sr. Advisor to Blackstone in 2019.

Blackstone one of the largest investor of REITS in India. First REITS IPO in India before he became a Sr. Advisor.

Mindspace Capital & Nexus select trust (2nd and 4th REITS) got SEBI approval for IPO, both backed by Blackstone.

Allegation- During DB's employment with Blackstone, SEBI brought major REITS changes which benefited Blackstone.
Some of the legislations and changes are as below


Screenshot_20240810-234705.jpg

And also, that REITS is MB's favorite asset class( Yes, that's an allegation too 🤣)

This can be lobbying but there's nothing to prove. Infact Blackstone cashed out ~$800M from India's first REIT when DB wasn't even employed with them.

Again, no proof Blackstone was involved in lobbying for REITS changes. If Hindenberg brings out some proof Blackstone was involved in lobbying for said changes, or that SEBI inordinately favoured in granting permission for those 2 IPOs, ONLY THEN conflict of interest can be alleged.
 

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Is it going to help Modi as SEBI will be clipped?
 
Cheepek said:
This can be lobbying but there's nothing to prove. Infact Blackstone cashed out ~$800M from India's first REIT when DB wasn't even employed with them.
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This is also addressed now

“On his appointment, the Blackstone Group was immediately added to Madhabi’s recusal list maintained with Sebi,” the statement said, ensuring there was no conflict of interest."

www.businesstoday.in

Hindenburg's allegations: Sebi chief Madhabi Puri Buch issues a point-by-point rebuttal

The couple clarified that their investment in the fund mentioned by Hindenburg Research was made in 2015 when they were both private citizens residing in Singapore, nearly two years before Madhabi joined Sebi.
www.businesstoday.in www.businesstoday.in

This episode was such a shitshow tailored for financial illiterates, Congis and Twitter bots
 
Cheepek said:
This is also addressed now

“On his appointment, the Blackstone Group was immediately added to Madhabi’s recusal list maintained with Sebi,” the statement said, ensuring there was no conflict of interest."

www.businesstoday.in

Hindenburg's allegations: Sebi chief Madhabi Puri Buch issues a point-by-point rebuttal

The couple clarified that their investment in the fund mentioned by Hindenburg Research was made in 2015 when they were both private citizens residing in Singapore, nearly two years before Madhabi joined Sebi.
www.businesstoday.in www.businesstoday.in

This episode was such a shitshow tailored for financial illiterates, Congis and Twitter bots
Click to expand...
Can you please explain in details
 
iNorthernerOn9 said:
Italian kuttiya ka aulaad... khul kar bol raha not to invest in Indian stock market... isn't this treason... seems we might witness the biggest crash in history


View: https://x.com/ANI/status/1822653090589487219?t=Ri4UGiqDBC2Wlzon6xKYyA&s=19
Click to expand...


Modi and mota bhai, please continue to feed this snake with all UPA era scandals brushed under the carpet, national herald, dual citizenship etc. all be damned. The nation and the common man are effed katakat and goodluck in surviving this term and 2029!
 
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