The US short-seller is attempting to undermine trust in the market ecosystem, according to the Association of Mutual Funds in India (AMFI), which criticized the most recent Hindenburg report against SEBI Chairperson Madhabi Puri Buch and her husband Dhaval Buch on Sunday.
“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, saying that if the claims were allowed to stand, they would put needless obstacles in the way of the fastest-growing economy in the world.”The AMFI stated that the study “seeks to malign the hard-earned achievements of our nation” and that Hindenburg’s statements lack context and knowledge of the Indian regulatory system.
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.
