Mumbai: SEBI chair Madhabi Puri Buch and her husband Dhaval Buch in a private joint statement alleged breach pf privacy while also categorically rejecting the allegations of conflict of interest flagged by the Congress Party in repeated press conferences against the former. The Congress Party has alleged that Agora Advisory’s Indian unit received payments to the tune of Rs 2.9 crore from a clutch of Indian companies whose cases were also before the markets regulator.
In their statement, the Buch’s said that the SEBI chief did not deal with any file related to the following entities:
S. No.
Companies
1
Agora Advisory
2
Agora Partners
3
Mahindra Group
4
Pidilite
5
Dr Reddy’s
6
Alvarez and Marsal
7
Sembcorp
8
Visu Leasing
9
ICICI Bank
The couple deemed the allegations made in respect of the above entities as “completely false, malicious and defamatory.” The Buch’s said that the SEBI chief was in compliance with all regulatory guidelines on disclosure and recusal. She also maintained a proactive list of recusals with the markets regulator, the couple added.
From the time of joining SEBI in 2017, Madhabi Puri Buch provided disclosure regarding shares held in Agora Advisory and Agora Partners, according to the joint statement. The couple also alleged breach of privacy stating that their Income Tax returns had been accessed in a fraudlent and illegal manner.
Congress allegations against Buch
The Congress has accused Buch of receiving salaries from ICICI Bank and ICICI Securities even as she served SEBI as a member and then as its chief. ICICI Bank refuted thee allegations terming them to be payments towards retirals for Buch’s service. The political party questioned differential norms for ESOPs to Buch and to other employees who had left the bank.
Congress party spokesperson Pawan Khera also alleged that the SEBI chief had received payments from a Wockardt Group entity in return for property leased to them by the SEBI chief, while the pharma giant’s insider trading case was under the market regulator’s lens. Wockhardt denied any wrongdoing in the transaction.
The political party alleged that a clutch of companies which were being examined by SEBI paid a total of Rs 2.9 crore to Agora Advisory, a consultancy firm in which Madhabi Pouri Buch held a 99 per cent stake. Among the entities named by the Congress, Mahindra and Mahindra, Pidilite, and Dr Reddy’s denied any wrongdoing. Mahindra Group added that Dhaval Buch had been hired in his personal capacity as an expert on logistics.
Madhabi Puri Buch and her husband Dhaval Buch in a joint statement issued in their personal capacity refuted allegations of the SEBI chief dealing with files of listed companies in India which had dealings with their consultancy firm Agora Advisory. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
