Character assassination by Vulture Fund: Mohandas Pai rubbishes Hindenburg report

New Delhi: Former Infosys CEO Mohandas Pai on Sunday said that the latest Hindenburg allegations against the SEBI are rubbish and a “character assassination by a Vulture Fund."

In a post on social media platform X, Pai who is a key industry voice on various issues, said that this latest report might be a tactic to gain attention.

“Rubbish allegations aimed at sensationalism. There was a SC-monitored investigation overseen by an eminent panel and when the Vulture Fund was fully exposed, it throws mud,” he posted.

According to him, “This is a Hit job to divert attention from the manipulations of the Vulture Fund. The allegations are rubbish and laughable. No real evidence, only rhetoric."

Pai further said that some rubbish is thrown out and “the (George) Soros gang jumps on it”.

Meanwhile, SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch have strongly denied the allegation levelled by Hindenburg Research against them.

In a joint statement, they called the report a “character assassination attempt” because an enforcement action and show-cause notice was issued to Hindenburg last month.

“Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them,” read the joint statement.

The market regulator has also accused Hindenburg of making "unfair" profits through collusion, using non-public and misleading information to induce panic selling.