Wealth management firm 360 ONE has firmly denied any involvement in investing in Adani Group shares through its IPE-Plus Fund 1. This statement comes in response to recent allegations made by short-seller Hindenburg Research.

In a clarification released on Sunday, 360 ONE, formerly known as IIFL Wealth Management, addressed the claims raised by Hindenburg. The company stated that its IPE-Plus Fund 1 did not include investments in Adani Group shares. The statement also refuted claims regarding the investments of Sebi Chairperson Madhabi Puri Buch and her husband Dhaval Buch, clarifying that their contributions amounted to less than 1.5 percent of the total inflow into the fund.

360 ONE emphasized that the fund was fully compliant with regulatory standards during its operational period from October 2013 to October 2019. The firm reassured that no investors had any role in the decision-making process regarding investments, underscoring its adherence to regulatory guidelines and operational transparency.