India markets regulator calls for calm amidst Hindenburg accusations against chief

India’s securities watchdog, Securities and Exchange Board of India (SEBI) on Sunday urged investors to maintain composure in light of accusations leveled against its chairperson by US short-seller Hindenburg Research.

Hindenburg alleged on Saturday that SEBI chairman Madhabi Puri Buch had previously held investments in offshore funds also used by the Adani Group.

The SEBI asserted that investigations into the Adani Group are nearing completion and that Buch, has adhered to all disclosure regulations.

“As a matter of policy SEBI refrains from commenting on any investigation and ongoing enforcement matter,” SEBI said in a statement.

Defending its chief, SEBI stated that Buch made relevant disclosures required in terms of holdings of securities and their transfers and that she had recused herself in matters involving potential conflicts of interest.

Buch in a separate statement asserted that her investment in offshore funds mentioned in the Hindenburg report predates her appointment at SEBI by two years.