India stock market regulator under fire again after Hindenburg row

Agency blames employee claims of toxic workplace on 'external elements'

2024-09-06.Buch

U.S short seller Hindenburg Research has accused India's market regulator chief Madhabi Puri Buch of conflict-of-interest over ties to conglomerate Adani Group. © Reuters

SAYAN CHAKRABORTY, Nikkei staff writer

BENGALURU -- India's stock market regulator has been hit by toxic workplace claims, just after U.S. short seller Hindenburg Research accused the agency's chief of conflict-of-interest over her ties to conglomerate Adani Group.

The office culture allegations mark the latest headache for the Securities and Exchange Board of India (SEBI), which on Wednesday blamed so-called "external elements" for stirring dissent among employees who had complained that abusive managers "set unrealistic targets with changing goal posts."

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