Hindenburg allegations on Sebi ‘baseless and misleading’: Indian REIT Association

Business: New Delhi, Aug 12 (PTI) The REIT Association of India on Monday said claims made by US short seller Hindenburg Research, which said the REIT framework created by market regulator Sebi caters to the interests of a select few, are “baseless and misleading”. In fact, the association has lauded Sebi and its leadership for creating a “rigorous regulatory environment”, which includes comprehensive periodic reporting requirements, mandatory independent valuation and strict governance standards. These measures are designed to enhance transparency and protect the interests of investors, it said. The statement comes after Hindenburg’s report on Saturday alleged that recent amendments to Sebi’s REIT Regulations 2014 were made to benefit a specific multinational financial group. In this regard, the market regulator said amendments have been made from time to time in the Sebi (REIT) Regulations, 2014.

In a statement, the association said that since the introduction of REIT (real estate investment trust) regulations in 2014, India has established a robust and transparent regulatory framework that is aligned with global best practices. “Developed in consultation with all market participants, this framework ensures the highest level of investor protection for domestic and international institutional investors as well as retail investors,” it said. Hindenburg Research on Saturday launched a broadside against market regulator Sebi chairperson Madhabi Puri Buch, alleging that she and her husband had stakes in shadowy offshore funds used in the alleged Adani money siphoning scam. Sebi chairperson Buch and her husband Dhaval denied the allegations as baseless and said their finances are an open book. Her husband Dhaval Buch is a senior advisor at Blackstone.