Congress’ Another Revelation About SEBI Chief Violating Rules
LNew Delhi, September 14: The Congress today came out with fresh revelations about how the SEBI Chief Madhabi Puri Buch had violated the conflict of interest clause by trading in some of the listed companies.
The party also revealed that Ms Buch, while being the full-time member and later Chairperson of SEBI had also invested in some Chinese funds.
Addressing a press conference at the AICC headquarters here today, party spokesperson and Chairman of the Media and Publicity Department Pawan Khera asked the Prime Minister Narendra Modi whether he was aware of all this.
He said, these conflicts of interest move beyond the borders of India. “First, between 2017-2023, Ms Buch, as a Whole-Time member and later as the SEBI Chairperson, traded in listed securities worth Rs 36.9 crores”, he said while pointing out that this was in violation of section 6 of SEBI’s Code on Conflict of Interest for Members of Board.
Second, he disclosed that the party had information that between 2017-2021, Ms. Buch held foreign assets.
“When was the first time she declared the foreign assets and to which agency of the government?”, the Congress spokesperson asked, adding, “is it true that Ms. Madhabi P. Buch was actively involved in Agora Partners PTE (Singapore) as she was a signatory to the bank account?”
He observed while it was deeply concerning to learn that the SEBI Chairperson has been investing in Chinese funds, it was hardly surprising as the PM himself had given a clean chit to China.
Khera asked, is the PM aware that the SEBI Chairperson has been trading in listed securities while in possession of unpublished price-sensitive information?
Posing another question to the PM, he asked, whether the PM was aware that Ms Buch has made high value investments outside India? “If yes, what is the date of these investments and the date of disclosures?” he added.
He also asked whether the PM was aware that the SEBI chairperson has been investing in Chinese firms at a time when India is facing geopolitical tensions with China?
