The Congress party has raised allegations against Madhabi Puri Buch, the current Chairperson of the Securities and Exchange Board of India (SEBI), accusing her of profiting significantly through insider trading activities involving several major listed companies. According to the Congress spokesperson, Buch is claimed to have made substantial profits, amounting to crores, from her involvement with companies such as Mahindra & Mahindra (M&M), ICICI Bank, Dr. Reddy’s Laboratories, and three other listed firms.
Source:- news 18
The allegations center around Buch’s purported use of Agora, an investment platform, to engage in trades that reportedly leveraged privileged information for personal gain. The Congress party has called for a thorough investigation into these claims, questioning SEBI’s transparency and accountability under her leadership. They argue that such activities undermine the integrity of India’s financial markets, which are regulated by SEBI.
Source:- -BBC news
The Congress further alleges that Buch’s association with Agora, a company linked to her investments, facilitated these transactions in a manner that evaded scrutiny. They have demanded a probe into the matter to ascertain the legitimacy of these claims and ensure that SEBI remains a neutral and fair regulator.
Madhabi Puri Buch, a former banker with ICICI Bank, became SEBI’s first female chairperson in 2022 and has been recognized for her regulatory reforms and efforts to enhance market transparency. The allegations have sparked a political debate, with opposition parties questioning SEBI’s independence and governance.
SEBI has not yet responded to these allegations, and Madhabi Puri Buch has not issued a statement on the matter. If proven true, the claims could lead to significant repercussions for SEBI and its regulatory framework, highlighting the need for strict oversight and governance mechanisms within India’s financial sector.
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