A “small, hidden, and obscure” Mauritius-based investment vehicle, IPE Plus Fund, has become embroiled in allegations made by Hindenburg Research. The US-based short-seller, in its latest report, claimed that IPE Plus Fund was established by Ahuja through the wealth management firm India Infoline (IIFL). The report further alleged that the Sebi chief and her husband, Dhaval Buch, invested in this fund in June 2015, and that it was also utilized by Vinod Adani, the brother of billionaire Gautam Adani.
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