MUMBAI (Reuters) - U.S. based short-seller Hindenburg Research in a new report released on Saturday alleged that the chairperson of India's market regulator Madhabi Puri Buch held investments in certain offshore funds that were also used by the Adani group.

Buch did not immediately reply to a call and a message sent on Whatsapp.

Citing whistleblower documents, Hindenburg said Buch and her husband held stakes in an offshore fund where a substantial amount of money was invested by Vinod Adani, brother of Gautam Adani, who is chairman of the Adani group of companies.