US short-seller Hindenburg Research has reignited its feud with India's Adani Group by accusing the head of the country's market regulator, Madhabi Puri Buch, of holding investments in offshore funds linked to the conglomerate. Buch has vehemently denied the allegations, asserting full compliance with disclosure requirements. However, Hindenburg, citing whistleblower documents, claims Buch and her husband invested in a Bermuda-based fund that also held Adani Group shares. "No investor had any involvement in the fund's operations or investment decisions. Mrs Madhabi Buch and Mr Dhaval Buch's holdings in the fund were less than 1.5 per cent of the total inflow into the fund," the fund's asset manager said in a statement to India's stock exchanges. The new allegations come amid ongoing investigations into both Adani Group and Hindenburg by India's securities regulator, the Securities and Exchange Board of India (SEBI). The Adani Group has dismissed the latest claims as a desperate attempt to damage its reputation. This fresh salvo in the high-stakes battle between the short-seller and the Indian conglomerate is likely to intensify scrutiny of the Adani Group's business practices and the regulatory environment in India. Attribution: Reuters