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Though Mr Adani denied the claims, the allegations triggered a market sell-off and an ongoing investigation by India's market regulator, SEBI.

Trouble for Ms Buch began in August when US-based short-seller Hindenburg Research accused her and her husband of holding investments in an offshore fund used by the Adani Group, implying it was why Sebi was dragging its feet on an investigation against Adani over allegations of accounting fraud and market manipulation.

But perhaps most damaging of all is growing internal dissent within Sebi, which has now spilled out into the public domain.

Sebi has publicly rejected the claims as “misplaced”, adding that “junior officers have been misguided, perhaps by external elements”.

The Sebi chief has so far not made a public statement on protesting employees or the criticisms levelled at her by Mr Chandra.