"Every single entity involved needs to be summoned & every link investigated," says Mahua Moitra.
Trinamool Congress (TMC) leader Mahua Moitra filed a complaint against Madhabi Puri Buch, the chief of India’s regulatory body Securities and Exchange Board of India (SEBI), with LokPal (anti-corruption agency) on Friday. The complaint alleges Buch’s wrongdoing and demands a thorough investigation into the matter.
Mahua wrote on X that the complaint was filed electronically and in physical form, and the LokPal has 30 days to refer it to the CBI or ED (Enforcement Directorate) for a preliminary investigation.
My LokPal complaint against Ms. Puri-Buch been filed electronically & in physical form. LokPal must within 30 days refer it to CBI/ED for a preliminary investigation and then a full FIR enquiry. Every single entity involved needs to be summoned & every link investigated.… pic.twitter.com/5aZ4f2se9n
— Mahua Moitra (@MahuaMoitra) September 13, 2024
Also read| SEBI Employees Protest, Demand Madhabi Buch’s Resignation
She also stated that every entity involved in the case should be summoned and every link has to be investigated. On Thursday, Madhabi Puri Buch faced severe criticism for not responding to serious claims against her as Hindenburg Research questioned Buch’s silence on the allegations and wants her to respond.
Additionally, she has been facing financial shockwaves after Congress called for an independent inquiry, stating it is in the national interest. The opposition expressed concerns that foreign investors are increasingly worried and that trust in India’s stock markets is being undermined and demanded Buch to step aside from her role. Congress leader Pawan Khera launched a set of allegations accusing her of deliberately concealing financial interests linked to her advisory company, Agora Advisory Private Limited.
Also read| Congress Demands Independent Probe Into Allegations Against SEBI Chief Madhabi Buch
Apart from the financial kerfuffle, an internal letter sent to the finance ministry alleged a toxic work culture under Buch’s leadership at the market regulator. The letter was written by the SEBI employees that they slammed the chairperson’s management work culture, citing incidents of public humiliation, verbal abuse, and excessive monitoring of employee movement.
