India, Aug. 12 -- New York-headquartered Hindenburg Research on Monday said market regulator Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buchs response to the allegations levelled against her includes several admissions that raise numerous new critical questions.

Buchs response now publicly confirms her investment in an obscure Bermuda/Mauritius fund structure, alongside money allegedly siphoned by Vinod Adani. She also confirmed the fund was run by a childhood friend of her husband, who at the time was an Adani director, Hindenburg Research posted on X.

Buchs statement also claims that the two consulting companies she set up, including the Indian entity and the opaque Singaporean entity became immediately dormant o...