Mutual funds’ body slams Hindenburg’s attempt to undermine SEBI chief
The Association of Mutual Funds in India (AMFI) has strongly condemned the recent Hindenburg report targeting SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch. In a statement released on Sunday, AMFI accused the US short-seller of attempting to erode trust in India’s market ecosystem through sensationalist claims.
In a statement, the AMFI said that external comments on the markets regulator’s Chairperson “not only attempt to undermine Madhabi Buch’s contribution to the Indian capital market, but it also undermines our country’s economic progress, and creating a trust deficit in the market ecosystem must be seen for what they truly are — attempts to create a sensation by connecting random events done in the past”.
The mutual fund industry body warned that if the allegations were left unchecked, they could create unnecessary hurdles in the path of the world’s fastest-growing economy.
“Hindenburg’s claims lack context and understanding of the Indian regulatory environment, said the AMFI, adding that the report also “seeks to malign the hard-earned achievements of our nation”.
The AMFI further said that the market structure in India 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,” said the industry body.
AMFI’s statement emphasized that these allegations should be viewed as attempts to sensationalize and connect unrelated past events to create a trust deficit. The organization defended the integrity of India’s financial regulatory framework and highlighted the need to view these criticisms in the context of their broader impact on the market and economic stability.
The report, which raised concerns about the regulatory oversight of SEBI and its Chairperson, was criticized by AMFI as an effort to undermine Buch’s significant contributions to the Indian capital market. The association argued that such external comments not only detract from Buch’s achievements but also harm the broader perception of India’s economic progress.
According to the AMFI, several important measures have been taken under the leadership of the current SEBI Chairperson, and SEBI regulations have made mutual funds the most transparent and effective product.
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West is no saint nor any businessman (East or West). Just because they have the megaphone, they cannot keep loudmouthing.
Indians know all politicians & media are all corrupt (Except PGurus), they are rapists – of women or mother earth or motherland, smugglers, support terrorists or all in one criminals of highest order ….etc.., We have become thick skinned & thick brains & immune to any foul mouthing. To hell with Hidden-burg.
Stock market is a gambling den, every loser cries loud