SEBI chief accused of taking benefits from 3 places: Congress said- took ?16.80 crore salary from ICICI; Bank said- took only retirement benefits

Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch is on the target of Congress. Congress spokesperson Pawan Khera held a press conference on Monday and accused Madhavi of taking salary from 3 places including ICICI Bank while being associated with SEBI. Khera said, ‘Madhabi Puri Buch was a full-time member in SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri Buch became the chairperson of SEBI. PM Modi and Amit Shah are included in the cabinet that appoints the chairperson of SEBI. ‘ On the other hand, ICICI denied the allegations and said, ‘After retiring from the bank, Madhavi was not given any salary or employee stock option. She only took retirement benefits. ‘ Congress said- If Buch has any shame, she should resign from her post. Kheda claimed that Madhabi Puri Buch, being a full-time member of SEBI, was taking regular income from ICICI Bank, which was Rs 16.80 crore. She was also taking ICICI Prudential, ESOP and TDS of ESOP from ICICI Bank. Kheda said- We want to know from Madhavi Puri that why were you taking your salary from ICICI despite being a full-time member of SEBI? This is a direct violation of Section-54 of SEBI. If Madhabi Puri Buch has any shame, she should resign from her post. Madhabi Buch is the regulator of the market, the chairperson of SEBI, then how can she still take salary from ICICI Bank? Why did she take Rs 22,41,000 from ICICI Prudential between 2017-2024? After all, what services was she providing to ICICI? The game of chess is going on in the country at this time. We have not yet been able to take a final decision on who is the real player of this game, its pawns are different. One such pawn is Madhavi Puri Buch. – Pawan Khera, Congress spokesperson Hindenburg claims – SEBI chief has stake in offshore company linked to Adani Group
American company Hindenburg Research released a report on Saturday (August 19) at 9:57 pm. It claims that SEBI chief Madhabi Puri Buch and her husband Dhawal Buch have stake in an offshore company linked to Adani Group. Based on whistleblower documents, Hindenburg claimed that Buch and her husband have stake in Mauritius offshore company ‘Global Dynamic Opportunity Fund’. Hindenburg has alleged that Vinod Adani, brother of Adani Group chairman Gautam Adani, has allegedly invested billions of dollars in the ‘Global Dynamic Opportunity Fund’. This money was used to boost the share prices of Adani Group. Madhabi Buch denied the allegations
Madhavi Buch called the allegations against her in Hindenburg’s report baseless and an attempt to defame her character. The SEBI chairperson has expressed her willingness to declare all financial records. In a joint statement with her husband Dhawal Buch, she said, ‘Our life and finances are an open book. ‘Based on whistleblower documents, Hindenburg has claimed that Buch and her husband have a stake in Mauritius offshore company ‘Global Dynamic Opportunity Fund’. Hindenburg Research came into the limelight last year by accusing Adani Group of financial irregularities. This time Hindenburg has alleged that Vinod Adani, brother of Adani Group chairman Gautam Adani, has allegedly invested billions of dollars in the ‘Global Dynamic Opportunity Fund’. This money was used to boost the share prices of Adani Group. Know the controversy related to this in SEBI and Hindenburg report
SEBI i.e. Securities and Exchange Board of India, is an institution of the Government of India. It was established in the year 1992 to protect the investors of the stock market. In January 2023, Hindenburg accused Gautam Adani of using offshore funds to increase the prices of his group’s shares. Adani denied the allegations, but the matter reached the Supreme Court. SEBI was entrusted with the investigation of the matter.