Congress leader Pawan Khera has launched a fresh set of allegations against SEBI Chairperson Madhabi Buch, accusing her of deliberately concealing financial interests linked to her advisory company, Agora Advisory Private Limited. During a press conference, Khera highlighted what he described as “wilful concealment” by Buch regarding her 99% ownership in the firm, despite her claims that it had become dormant upon her appointment at SEBI.

Khera revealed that Buch’s involvement in Agora Advisory remained active, contradicting her previous statements. He noted that, as of 31st March 2024, Buch still retained her majority stake in the company, which had been providing consultancy services to various firms, including those regulated by SEBI. Khera further disclosed that Agora Advisory had received ₹2.95 crore, with a significant portion (88%) coming from Mahindra & Mahindra.

The Congress leader also raised concerns over a potential conflict of interest, pointing out that Madhabi Buch’s husband, Dhaval Buch, had received ₹4.78 crore in income from Mahindra & Mahindra while his wife was adjudicating cases involving the company as a SEBI official.

Khera demanded answers from Prime Minister Modi, questioning whether the government was aware of Buch’s financial dealings and whether any action would be taken to address these alleged conflicts.

Key Points:

1. Congress alleges SEBI Chairperson Madhabi Buch concealed her 99% ownership in Agora Advisory.
2. Agora Advisory provided consultancy services to SEBI-regulated firms, raising conflict of interest concerns.
3. The firm received ₹2.95 crore, with 88% coming from Mahindra & Mahindra.
4. Madhabi Buch’s husband, Dhaval Buch, also received ₹4.78 crore from the same company.
5. Congress demands clarification from Prime Minister Modi on Buch’s financial ties.