SEBI's X Account Locked Following Hindenburg Report? Here's What's Really Going On

Hindenburg Research's recent allegations against SEBI Chairperson Madhabi Puri Buch have stirred significant attention, leading to widespread discussion on social media. The report, which accused Buch of having undisclosed conflicts of interest and alleged stakes in offshore funds linked to the Adani Group, has been met with strong denials from both Buch and the Adani Group.

Amidst the controversy, users on X, formerly known as Twitter, expressed confusion over the status of SEBI's official account on the platform. The account, @SEBI_India, was reportedly set to private, sparking questions and concerns. A private or protected account restricts interaction from users who do not follow it, raising eyebrows about the transparency of the markets regulator's communication.

Opposition MP Karti Chidambaram voiced his concerns, questioning how a public body like SEBI could limit access to its social media account. However, it was later clarified by fact-checker and Alt News co-founder Mohammed Zubair that the account had been inactive since 2020 and was made private well before the Hindenburg report surfaced.

This Sebi @SEBI_India account wasn't locked today. But from many months. pic.twitter.com/LApLcfyeWk

— Mohammed Zubair (@zoo_bear) August 10, 2024

The allegations in the report included claims that Buch and her husband had stakes in offshore funds allegedly involved in a money siphoning scandal connected to the Adani Group. The report also accused Buch of failing to disclose various conflicts of interest and income from an Indian entity where she held a significant majority stake.

As the situation unfolds, the allegations have continued to draw attention, with both the couple and the Adani Group rejecting the claims. The incident has also sparked a broader discussion on the role of social media in public transparency and communication by regulatory bodies.

Also Read: SEBI Responds to Allegations in Hindenburg Research Report