SEBI's X Account Locked After Hindenburg Report? Check Out What Happened

Several users of the social media platform X pointed out that the official handle of the Securities and Exchange Board of India (SEBI) was locked for the public

Locking or protecting an account bars any other users who don’t follow the account from replying to it or interacting with it. (Image Source: Screenshot - X/@SEBI_India)

Source : X

As US-based short seller Hindenburg Research’s latest allegations against SEBI Chief Madhabi Puri Buch became the talk of the town, multiple users on social media expressed their confusion about the markets regulator’s account on X.

Several users of the social media platform X, formerly known as Twitter, pointed out that the official handle of the Securities and Exchange Board of India (SEBI) was locked for the public. The account, which goes by the username @SEBI_India was apparently made private or protected.

Locking or protecting an account bars any other users who don’t follow the account from replying to it or interacting with it. Opposition MP Karti Chidambaram raised a question over the same and asked, “How can a public body do this?”

How can a public body do this? @SEBI_India pic.twitter.com/2rGEyo00fH

— Karti P Chidambaram (@KartiPC) August 10, 2024

Amidst the chaos, several users clarified that the account has been inactive since 2020. Fact checker and co-founder of Alt News, Mohammed Zubair, also said that the account was made private earlier and not in the aftermath of the Hindenburg report.

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

— Mohammed Zubair (@zoo_bear) August 10, 2024

Notably, the report alleged, "Whistleblower Documents Show That Madhabi Buch, The Current Chairperson Of SEBI, And Her Husband Had Stakes In Both Obscure Offshore Funds Used In The Adani Money Siphoning Scandal." Additionally, the report also claimed that Buch failed to disclose several conflicts of interests and also didn't disclose her income from an Indian entity wherein she held a majority stake of 99 per cent.

However, these allegations have been vehemently rejected by the couple and also by the Adani Group.