What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
On Sunday, 360 ONE Asset Management rejected Hindenburg Research’s claims regarding SEBI Chairperson Madhabi Buch’s investments.
NEW DELHI: 360 ONE Asset Management (previously IIFL Wealth Management Limited) on Sunday responded strongly to a report by a US short-seller firm Hindenburg Research, strongly denying allegations involving a fund in which SEBI Chairperson Madhabi Buch had invested.
The fund in question, IPE-Plus Fund 1, operated from October 2013 to October 2019, while Buch took charge only in 2022 three years after the fund shut down, IIFL said.
Further, according to 360 ONE, the fund never invested in Adani Group shares, either directly or indirectly.
“The fund’s Assets Under Management (AUM) peaked at USD 48 million, with over 90% of its investments in bonds. The fund was managed independently, with no involvement from investors in its decisions. Madhavi Buch and her husband, Dhaval Buch, held less than 1.5% of the total investments in the fund,” IIFL said.
360 ONE also noted that many of the points raised in the Hindenburg report have already been addressed in previous statements. The company reaffirmed its commitment to regulatory compliance and high standards of corporate governance.
This response from 360 ONE challenges the claims made by Hindenburg Research, providing clarity on the fund’s operations and distancing SEBI’s Chairperson from any alleged wrongdoing.
The recent Hindenburg report has also accused the SEBI Chairperson and her husband of investing in the same Bermuda and Mauritius-based offshore funds linked to Gautam Adani’s brother, Vinod Adani.
On Sunday, the Adani Group also separately sharply criticized the American short-seller for alleging financial connections between the conglomerate and SEBI Chairperson Madhabi Buch and her husband.
The group dismissed these claims as malicious, mischievous, and manipulative, accusing Hindenburg of drawing pre-determined conclusions for personal gain.
