In the latest chapter of the ongoing saga between Hindenburg Research and the Adani Group, the former has once again attempted to stir the pot with a new report. However, this time, the reception has been less than enthusiastic, with many dismissing it as a desperate attempt to stay relevant.

The report, which alleges that SEBI Chairperson Madhabi Puri Buch had stakes in offshore funds used by the Adani Group, has been met with widespread skepticism. Critics have pointed out that the report relies on outdated information and fails to provide any substantial evidence to back up its claims.

In response to the report, Buch and her husband, Dhaval Buch, released a statement strongly denying the allegations. They emphasized that the investments mentioned in the report were made two years before Madhabi joined SEBI, and that they had no commercial relationship with the Adani Group.

Meanwhile, the Adani Group has also dismissed the report as “malicious, mischievous, and manipulative.” The company has accused Hindenburg of cherry-picking publicly available information to arrive at pre-determined conclusions for personal gain.

The backlash against the report has been swift and severe. Many have criticized Hindenburg for its lack of credibility and its history of making sensational claims without providing sufficient evidence. Some have even accused the firm of engaging in short selling and market manipulation.

The incident has also sparked a political firestorm, with opposition parties using the report to attack the ruling government. However, these attacks have largely been dismissed as baseless and politically motivated.

In the end, the Hindenburg report seems to have backfired spectacularly. Instead of damaging the Adani Group or SEBI, it has only served to further undermine the credibility of the short seller. As one observer put it, “Hindenburg’s latest report is a classic case of ‘the boy who cried wolf.’ After so many false alarms, it’s hard to take anything they say seriously.”