SEBI Chairperson Madhabi Puri Buch and her husband Dhawal Buch have clarified the Congress’ allegations regarding rental income. In a detailed statement on Friday, Buch said, ‘This allegation is not only insulting, false and disturbing, but is clearly motivated and full of ill-feeling.’ In fact, Congress spokesperson Pawan Khera on Saturday (September 7) alleged that the Buch couple in Mumbai rented one of their luxury apartments to pharma company Wockhardt. This charged a rent of more than Rs 2 crore between 2018 and 2024. During this time, the company was under investigation by SEBI for insider trading. Khera claimed that the rent arrangement indicates a possible ‘quid pro quo’ i.e. benefit in exchange for benefit. Key points of the statement issued by SEBI Chief… Buch couple said – our IT returns were tampered with Congress had said that rent increased from Rs 7 lakh to Rs 46 lakh in four years
Congress claimed that rental income increased from Rs 7 lakh in 2018-19 to Rs 46 lakh in 2023-24, raising questions on the timing of SEBI’s investigation into Wockhardt. According to reports, Wockhardt Hospitals Managing Director Zahabia Khorakiwala and Wockhardt Chairman Habil Khorakiwala live in a luxury apartment in Mumbai’s Vivaria Complex. Wockhardt said – the allegations are completely baseless and misleading
At the same time, in response to these allegations, Wockhardt has also issued a statement denying any allegations of wrongdoing. Wockhardt said in its regulatory filing, these allegations are completely baseless and misleading. The company has followed and will follow all the laws. Two days ago, Congress had said – SEBI Chairperson’s husband got money from Mahindra
On Tuesday (September 10), Congress had made new allegations against Securities and Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch. Congress said that Madhabi’s husband Dhawal Buch received Rs 4.78 crore from automobile company Mahindra & Mahindra (MM) between 2019 and 2021. Read full news… Last time Congress had accused of taking benefits from 3 places
Earlier on September 2, Congress had accused Madhavi of taking salary from 3 places including ICICI Bank while being associated with SEBI. Pawan Khera had 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.’ Know what is the controversy related to 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.
