New Delhi: Hours after the Congress alleged that SEBI Chairperson Madhabi Puri Buch took a salary of Rs 16.80 crore from ICICI Bank from 2017 to 2021, the latter hit back saying it neither paid any salary nor gave the facility of employee stock option to her. It said that Buch had retired from the bank on October 31, 2013. Since then, she was not paid any salary, nor given any employee Stock Owners Plan (ESOP).
It may be noted that the ESOP refers to a company giving ownership of some stock to its employees. The bank added that Buch received compensation in the form of salary, retirement benefits, bonus, and ESOP as per the policies implemented during her job.
What is the allegation of Congress?
Earlier in the day, the Congress held a press conference and said that since taking over as the SEBI chairperson in 2017, Buch has been taking a salary from SEBI and also holding a position of profit in ICICI Bank and is also earning income from the bank which is against the rule
The main Opposition party levelled fresh charges of conflict of interest against Buch and demanded an explanation from Prime Minister Narendra Modi over her appointment as head of the Appointments Committee of the Cabinet (ACC).
Kharge demands the removal of Sebi’s chief
Earlier in the day, Congress president Mallikarjun Kharge took to X on the issue. Referring to PM Narendra Modi he wrote, “ SEBI protects the hard earned money of middle class and small investors, your friendship and perhaps this appointment which was made deliberately will reduce the trust in the country’s Market Regulator.” He also called for the removal of the SEBI chief in the same X.
ICICI Ban’s statement came hours after Congress alleged that Sebi chief took salary of Rs 16.80 crore from ICICI Bank from 2017 to 2021, even after she left the bank. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
