In summary: The Association of Mutual Funds in India (AMFI) has criticized the Hindenburg report against SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch, accusing the US short-seller of creating a trust deficit in the market ecosystem. The AMFI warns that if unchecked, the allegations could hinder the world’s fastest-growing economy. The AMFI claims that the Indian market structure is strong and that the regulator has created a well-functioning market trusted by local and global investors.
August 11, 2024 (IANS)—On Sunday, the Association of Mutual Funds in India (AMFI) denounced the most recent Hindenburg report on Madhabi Puri Buch, the chairperson of SEBI, and her husband, Dhaval Buch. The AMFI claimed that the US short-seller was attempting to undermine trust in the market ecosystem.”Not only does it attempt to undermine Madhabi Buch’s contribution to the Indian capital market, but it also undermines our country’s economic progress,” the AMFI stated in a statement. “Attempts to create a trust deficit in the market ecosystem must be seen for what they truly are — attempts to create sensation by connecting random events done in the past.”
The trade association for mutual funds issued a warning, stating that the world’s fastest-growing economy may face needless obstacles if the accusations were not investigated.
According to the AMFI, Hindenburg’s statements are out of context and lack knowledge of the Indian regulatory framework. The study also “seeks to malign the hard-earned achievements of our nation.”
The Indian market structure, according to the AMFI, is “strong”. “Over a period, the regulator has created a well-functioning market trusted by both local and global investors with several measures taken under the current leadership of SEBI Chairperson,” according to the industry group.
The current SEBI Chairperson, according to the IMFI, has led several significant initiatives, and SEBI regulations have made mutual funds the most efficient and transparent offering.
