New Delhi : The Congress on Saturday leveled fresh allegations of conflict of interest against SEBI chief Madhabi Puri-Buch. Along with this, she was accused of 'investing' outside India, including in Chinese companies, amid rising geopolitical tensions with the neighboring country. The Congress also accused Buch of trading in listed securities while being in possession of unpublished sensitive information. Madhabi Buch and her husband Dhaval issued a statement on Friday calling all the allegations 'completely false, malicious and defamatory'.
Does Prime Minister Modi know about investments?
Asking another question to Prime Minister Narendra Modi, senior Congress leader Pawan Khera said, “Is the Prime Minister aware that Madhavi Puri Buch has made high value investments outside India? If yes, what is the date of investment and date of disclosure?” He said, “Is the Prime Minister aware that the SEBI chairman is investing in Chinese firms at a time when India is facing geopolitical tensions with China?”
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Clarification given on stake in Agora Advisory
Earlier on Friday, Buch's statement also denied allegations that he holds a 99% stake in Agora Advisory Pvt Ltd. The firm provides consulting services to Mahindra & Mahindra, Dr Reddy's and Pidilite, among others. It said Dhawal received income of Rs 4.78 crore from the M&M Group while the Sebi chief was mediating the group's affairs. Madhabi and Dhawal's statement said Madhabi never handled any files related to Agora Advisory, Agora Partners, Mahindra Group, Times of India Pidilite, Dr Reddy's, Alvarez & Marsal, Sembcorp, Visu Leasing or ICICI Bank after joining Sebi.
However, this response came after Hindenburg Research on Wednesday highlighted that the Sebi chief remained “completely silent” for several weeks even as multiple entities filed fresh charges.
