New Delhi: The Congress on Tuesday accused Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch of helping some big companies and benefiting while she was a whole-time member of the regulatory body.
Addressing a press conference, Congress spokesperson Pawan Khera claimed that Agora Advisory Pvt Ltd, which had links with the Buches, provided consultancy to six companies, including Mahindra and Mahindra Ltd, Dr Reddy’s, Pidilite, ICICI, Visu Leasing And Finance, and Pidilite and Sembcorp.
He claimed that Madhabi Puri Buch and her husband Dhaval Buch received Rs 4.78 crore between 2019 and 2021 from Mahindra Group. “This comes at a time when Madhabi Buch, as a whole-time member of Sebi, was adjudicating cases of the same group,” he added.
Before becoming Chairperson of SEBI, Madhabi Buch was SEBI’s whole-time member from April 5, 2017 to October 4, 2021.
Mahindra Group has refuted the allegation as “false and misleading”. It also clarified Dhaval Buch’s employment with the company, which joined the Mahindra Group after retiring from Unilever in 2019. Mahindra Group said he was taken into the company for his expertise in supply chain management.
