Finance Ministry sources deny report of any panel on Hindenburg allegations

Sources within the Finance Ministry have denied any proposal under consideration to set up a panel into the allegations by Hindenburg Research against Sebi chairperson Madhabi Puri Buch, Moneycontrol learns.

Earlier on August 19, news service Informist had reported citing a senior Finance Ministry official that the Ministry is considering setting a panel to look into the allegations made by Hindenburg Research.

The report added that the panel could have representation representation from whole-time and part-time members of the Sebi board, along with government officials, Informist quoted the official. Discussions on setting the panel are underway, the government official told Informist, adding that the Ministry is yet to finalise the constitution of the panel.

"If an allegation is made against the chairperson, even though eight other members are part of the Sebi board, a statement under her leadership does not really make sense since the issue is so sensitive," the Informist news report quoted the government official, adding that the matter is also about the 'optics'.