Lokpal clears Madhabi Buch in Hindenburg case

• Lokpal full Bench, led by Chairperson Justice A.M. Khanwilkar, has dismissed all three complaints against Madhabi Puri Buch, former Chairperson of SEBI, in the Hindenburg case.

• The judgment concluded that the allegations were based on presumptions and assumptions, not supported by verifiable material.

• The Hindenburg Report, a short seller trader’s attempt to expose Adani Group of Companies, was not the sole basis for escalating action against Puri.

• The Bench found the allegations to be untenable, unsubstantiated, and bordering on frivolity.

• The scope of inquiry is to ascertain if the information reveals any cognisable offence.