Is SEBI chief on her way out? Speculations rife amid controversies
Updated: Oct 3rd, 2024
The Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch may resign in the coming week, according to reports. The SEBI head was embroiled in controversy after US-based short seller Hindenburg named her and her husband Dhaval in its latest report, alleging the couple’s involvement with Adani Group’s offshore operations.
The name of former State Bank of India (SBI) chairman Dinesh Kumar Khara as the next SEBI chief is also doing the rounds.
US short-seller Hindenburg Research on August 10 had claimed Buch was involved in a conflict of interest regarding SEBI’s investigation into the Adani Group, a charge which has already been denied by the SEBI chairperson and her husband.
Moreover, the Congress has also claimed the SEBI chief had a 99% stake in a firm when it provided consultancy services to the Mahindra and Mahindra Group, and her husband received ₹4.78 crore as income from the conglomerate, while she was adjudicating cases of the same group.
Mahindra Group had denied the claims, stating that the charges levelled by the Congress were “false and misleading in nature”.
The Buch couple has also refuted allegations made by both Hindenburg and Congress.
(With inputs from syndicated feed)
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