Hindenburg Warned, SEBI Slept—Now What?

frame Hindenburg Warned, SEBI Slept—Now What?

Sindujaa D N
The Great adani Cover-Up: Too Little, Too Late?

For over a year, the alarm bells rang loud and clear. Hindenburg’s explosive report exposed what it called the "biggest corporate con in history." Billions were allegedly funneled through murky offshore entities, stock manipulation was suspected, and regulatory oversight seemed like a bad joke. But did SEBI act? No. Did the government ask questions? Absolutely not.

Instead, Adani’s empire soared to greater heights, emboldened by silence. SEBI, under Madhabi puri Buch, dragged its feet, issuing extensions, delaying reports, and effectively looking the other way. The mainstream media? Muzzled. The opposition? Stonewalled. The Prime Minister? Silent, as if the accusations never existed.

And now, out of nowhere, an FIR appears. A year too late, after billions were made and lost, after damning allegations have already faded from the headlines. Is this justice in motion, or just a scripted spectacle to pacify critics while ensuring the real players walk free?


 This FIR feels like a pre-planned exit strategy rather than an actual attempt at justice. Once the case reaches the courts, expect a slow, procedural slog—delays, technicalities, and eventually, a clean chit. That way, not only does SEBI escape scrutiny, but Buch also gets legal immunity from future probes.

It's the classic "investigate to exonerate" playbook. The whole process is designed to create an illusion of accountability while ensuring the real power players remain untouched.

The real question is: Who benefits from this charade? And how long before the public stops falling for these staged performances?


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