Congress Accuses SEBI Chief Madhabi Buch Of Investing In Chinese Firms (image-twitter/ChekrishnaCk)
The Congress on Saturday continued its attack against Madhabi Puri Buch, a chairperson of the Securities and Exchange Board of India (SEBI), accusing her of making “high value investments” outside India including Chinese firms, amid rising geopolitical tensions with the neighboring country.
The party has also accused Buch of trading in listed securities while being in possession of unpublished price-sensitive information.
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The Congress party’s attack comes a day after Buch said that she had made all necessary disclosure and complied with recusal guidelines in dealing with companies such as Mahindra Group that hired her husband, as she rejected allegations of impropriety as “false, malicious and motivated.”
Posing a few questions to Prime Minister Narendra Modi, Congress senior leader Jairam Ramesh asked if he is still aware that the SEBI chairperson has been trading in listed securities while in possession of unpublished price-sensitive information.
“Is the PM aware that Madhabi Buch has made high value investments outside India? If yes, what is the date of this investment and date of disclosure?” Ramesh asked.
“Is the PM aware that the SEBI chairperson has been investing in Chinese firms at a time when India is facing geopolitical tensions with China?” he added.
This morning fresh revelations have emerged on the multiple conflicts of interest of the SEBI Chairperson, who is investigating the violations of securities laws and regulations by the Adani Group.
Our pointed questions to the non-biological PM are as follows:
1. Is the PM… pic.twitter.com/PmMQy7ud4e
— Jairam Ramesh (@Jairam_Ramesh) September 14, 2024
Addressing a press conference at the AICC headquarters here, Congress‘ media and publicity department head, Pawan Khera, alleged that between 2017-2023, Buch, as a whole-time member and later as the SEBI chairperson, traded in listed securities worth Rs 36.9 crore.
Read also: SEBI Chief Madhabi Buch, Husband Deny Allegations; Issue 3 Key Clarifications
Earlier this week, the Congress alleged that she held 99% shares in a consultancy firm, Agora Advisory Private Limited that was “actively providing advisory/consultancy services till date”. In addition, the Congress has also alleged in recent weeks that Buch received income from ICICI Bank post-retirement, earning rental income from Wockhardt Associates
The statement made by the Buchs on Friday also denied allegations of the former having a 99% stake in Agora Advisory Pvt, a firm which offers consultancy services to Mahindra and Mahindra, Dr Reddy’s, and Pidilite among others. It said that Dhaval received Rs 4.78 crore income from M&M Group while the SEBI chief was arbitrating cases from the group, as per the Times of India.
