No Correlation Between REITs And Dhaval Buch: Blackstone Sources

The relationship between SEBI chief Madhabi Puri Buch's husband and senior advisor to Blackstone, Dhaval Buch, and the REITs sponsored by the investment firm has been erroneously interpreted by Hindenburg, according to people with knowledge of the matter.

Dhaval Buch is a senior advisor to Blackstone Private Equity since 2019 and he has never been involved with real estate, real estate investment trusts, or REITs, capital markets or interface with any regulator on any topic while at Blackstone, according to sources.

Dhaval Buch's appointment also pre-dates Madhabi Puri Buch's appointment as SEBI Chairperson. Moreover, Dhaval Buch is not involved in any investment-related activities at Blackstone and exclusively advises private equity companies across Asia on procurement and supply chain related topics, which is his area of expertise.

SEBI chief, Madhabi Puri Buch has strongly denied allegations levided against them by short seller Hindenburg as baseless. In a statement, co-signed with her husband, Dhaval Buch, the Indian market regulator's Chairman has called it a "character assassination attempt" because a enforcement action and show-cause notice was issued to the Nate Anderson-led company around a month back.