US-based short-seller Hindenburg Research has come under fire from capital markets regulator Sebi and its chairperson, Madhabi Puri Buch, for allegedly undermining the regulator’s credibility and attempting to tarnish Buch’s reputation.

In a statement issued on Sunday, Buch and her husband Dhaval condemned Hindenburg’s recent report, which levied a series of allegations against Sebi. The Buchs’ statement accused Hindenburg of not only attacking Sebi’s institutional integrity but also engaging in a deliberate character assassination of the Sebi chairperson.

Hindenburg Research, known for its critical stance on various financial entities, has raised concerns about Sebi’s regulatory practices, but the Buchs have rejected these claims as baseless attacks designed to discredit the regulatory body.

The statement from Buch and her husband asserts that Hindenburg’s actions are an attempt to undermine the effectiveness of Sebi and destabilize the regulatory framework governing capital markets in India. The couple’s response underscores the seriousness with which they view these allegations and their commitment to defending Sebi’s reputation.