Finance Minister Nirmala Sitharaman has addressed the ongoing controversy surrounding SEBI Chairperson Madhabi Puri Buch for the first time. Speaking at the News18 India Chaupal event with Network18 Group Editor-in-Chief Rahul Joshi, Sitharaman said that Buch and her husband Dhaval Buch are addressing a few of the allegations against them with factual responses.

The minister stated, “I think a few of the allegations are being answered by the Buchs. Putting out facts to contradict allegations by Congress, I think the facts are to be taken on board.”

The controversy began when Hindenburg Research, in an August 10 report, accused Buch and her husband of involvement in Adani Group’s offshore funds. This raised concerns about SEBI’s role in overseeing ₹41,814 crore worth of mutual fund investments in 10 Adani group companies. The Buchs responded by issuing a joint statement categorically denying these claims, calling them “false, malicious, and motivated.”

The Indian National Congress amplified these allegations, accusing Buch of trading in listed securities and raising questions about her foreign assets, including investments in Chinese funds.

Congress leader Pavan Khera also questioned her family’s connections with companies named in the Panama Papers, but the Buchs dismissed these claims as untrue and defamatory.

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