On Monday, well-known investor Vijay Kedia took to X (formerly Twitter) to weigh in on the controversy involving Hindenburg Research and SEBI chief Madhabi Puri Buch. Kedia criticized Hindenburg’s tactics, suggesting that their strategy failed. He expressed his thoughts in a poetic tweet:
“Turns out, the Hindenburg wasn’t so smart,
Its blackmail plan fell apart,
So now it’s remembered, not for its threats,
But for going down in a fiery mess…”
Kedia’s tweet suggests that he believes Hindenburg’s efforts were unsuccessful and that their approach backfired.
Earlier, Hindenburg Research released a report claiming that Buch and her husband had connections to offshore funds in Bermuda and Mauritius, allegedly linked to Gautam Adani’s brother, Vinod Adani. These funds were supposedly used to trade large amounts of Adani Group shares. The report was based on whistleblower documents that claimed the Buchs opened an account with one of these funds in 2015.
However, SEBI chief Madhabi Puri Buch and her husband, Dhaval Buch, dismissed these claims as baseless, accusing Hindenburg of attempting character assassination in response to a notice issued by SEBI regarding the Adani controversy. The Buchs stated that their finances are transparent and denied all allegations made in the report.
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