The Congress party has intensified its criticism of SEBI chairperson Madhabi Puri Buch, launching a new podcast titled ‘Buch Bachao Syndicate’ featuring Rahul Gandhi and Pawan Khera. The party alleges a series of missteps and conflicts of interest in Buch’s tenure, raising concerns about her approach to market regulations and the potential risks to retail investors.
Congress leader Rahul Gandhi launched a scathing attack on SEBI chief Madhabi Puri Buch, questioning her reluctance to appear before a Parliamentary committee investigating the Adani Group. He demanded an explanation for her absence and who was behind the plan to shield her from accountability. The accusations come amidst allegations of SEBI’s inaction against the Adani Group, fueled by a short-seller report.
The Parliament’s Public Accounts Committee (PAC) meeting scheduled for Thursday was postponed due to SEBI chairperson Madhabi Puri Buch’s unavailability. The postponement comes amidst controversy surrounding Buch and the SEBI, with allegations of conflict of interest raised by Hindenburg Research. The PAC aimed to review SEBI’s performance in light of these allegations.
Congress leader Pawan Khera has accused former SEBI chairperson Madhabi Puri Buch of corruption, citing a potential conflict of interest between her husband’s company, Carol Info Services, and Wockhardt Ltd., a company SEBI has investigated for insider trading. These allegations come amid protests from SEBI employees demanding Buch’s resignation and a parliamentary inquiry into the regulator’s work culture. The Congress has also raised concerns about Buch’s continued income from ICICI Bank after her retirement, raising further questions about her potential conflict of interest.
The Indian National Congress has demanded an independent investigation into allegations against Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch. The party alleges that these allegations, including conflict of interest and a toxic work environment, raise concerns about the integrity of India’s stock market and have foreign investors worried. The Congress argues that an independent inquiry with Buch stepping aside is crucial to restore confidence in the market and the country’s economy.
The Indian National Congress has accused Sebi Chairperson Madhabi Puri Buch of a conflict of interest, citing her substantial income from ICICI Bank and ICICI Prudential during her tenure as a member of SEBI. The party raised concerns about Buch’s simultaneous involvement with SEBI and her financial ties to a major financial institution.
The head of India’s market regulator, Madhabi Puri Buch, is facing allegations of a conflict of interest due to her continued involvement with a consultancy firm during her tenure at SEBI. This has raised concerns regarding the impartiality of the ongoing investigation into the Adani Group, which was accused of fraud by Hindenburg Research last year. Buch has denied the allegations, but former officials have raised serious concerns about her business interests and potential breaches of SEBI’s rules.
Following a new Hindenburg report alleging that SEBI Chairperson Madhabi Puri Buch was involved in an Adani money siphoning scandal through offshore entities, Adani Group stocks plummeted on Monday, August 12. The report, released on August 10, claimed that Buch and her husband held stakes in these entities. The Adani Group denied the allegations, calling them malicious and manipulative. Buch and her husband also released a joint statement asserting that the investment in question was made in 2015, prior to her joining SEBI. The incident has sparked a political controversy, with the opposition demanding an investigation.
The controversy surrounding SEBI chief Madhabi Puri Buch’s handling of potential conflicts of interest has raised concerns about her actions related to the Adani Group investigations. While SEBI claims she followed all disclosure and recusal norms, doubts remain about her involvement in the Adani probe, particularly regarding her husband’s business interests.
Madhabi Puri Buch, the first woman to chair the Securities and Exchange Board of India (SEBI), has been at the center of a recent controversy involving allegations of financial impropriety. This article explores her background, career, and the accusations leveled against her.
