Major industry body, the Indian Venture and Alternate Capital Association (IVCA) has publicly defended Sebi chairperson Madhabi Puri Buch and the markets regulator against recent allegations made by Hindenburg. IVCA criticised the claims as ‘unwarranted' and ’lacking in context'.
"We believe that the recent allegations made by Hindenburg are unwarranted and do not reflect a deep understanding of the Indian regulatory environment. Buch has issued a statement to the allegations which amply explains the mismatch in timelines, adequate disclosures made and the misinterpretations on account of the research firm. India is one of the fastest-growing markets in South Asia, and much of this success is attributed to the robust framework and oversight provided by Sebi," stated IVCA in their official response.
Furthermore, IVCA in a statement added, “The IVCA expresses full confidence in Ms. Buch's leadership and her ability to navigate these allegations with the same diligence and integrity that has defined her tenure. We remain committed to working closely with SEBI and its leadership to ensure the continued growth and success of the Indian capital markets..”
