It was revealed that the IPEplus Fund, where Sebi chief Madhabi Puri Buch and her husband invested, was registered in Bermuda, not Mauritius, as claimed by Hindenburg Research.
The Mauritius Financial Services Commission denied the fund's registration in their country, clarifying that it’s not licensed there. The fund, managed by 360 One Wam, was compliant and active from 2013 to 2019. Buch and her husband disclosed their 2015 investment, made before her Sebi tenure, addressing concerns about her role and transparency.