The Financial Services Commission of Mauritius responded to allegations by Hindenburg Research of using Mauritian shell companies and labeling the country a “tax haven.” The FSC stated that Mauritius follows strict international practices, does not license the named funds, and emphasized compliance with OECD standards. The Adani Group and SEBI Chairperson Madhabi Buch denied any connection to the allegations. This statement comes in response to Hindenburg’s allegations of complex offshore structures involving these funds and their connection to Vinod Adani and the current SEBI Chairperson, Madhabi Buch.