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Sebi found that crucial information, such as regulatory actions and financial plans, was omitted in the draft red herring prospectus.
The US-based short seller said Madhabi Buch's response "includes several important admissions" and "raises numerous new critical questions."
Also, Madhabi Puri Buch and her husband Dhaval Buch, in a joint statement, described the Hindenbirg claims as "baseless allegations and insinuations" devoid of truth.
SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani, the report said.
