SEBI chief Madhabi Buch protecting Adani's money, but who's protecting her?: Rahul Gandhi

Leader of Opposition Rahul Gandhi on Monday raised questions against Securities Exchange Board of India (SEBI) chief Madhabi Puri Buch for allegedly taking money from ICICI Bank. The Congress leader further accused her of holding shares in unlisted companies while being the chairperson.

In a post on social media platform X, Gandhi said, "For what was SEBI Chairperson Madhabi Buch taking money from ICICI? How could she hold shares in unlisted companies while being the chairperson? Why did that company get crores of rupees from Startup India?"



Further, Gandhi accused the government of not taking action against Buch. He also said that Buch is protecting Adani's money and questioned if the SEBI chief herself is being protected.

He also accused the investigating agencies of inaction and blamed the media for not having asked questions.


"Due to what fear is the government not taking action on this? It is clear that Butch is protecting Adani's money, his valuation and reputation, but who is protecting Butch and why? Agencies did not investigate, media did not question, government did not take action - we have investigated, are questioning and when the time comes, action will be taken!"

He also posted a four and a half minutes video questioning the SEBI chief.



On October 24, Buch did not be attend the Parliament's Public Accounts Committee (PAC) meeting, owing to some 'emergency work'.

The parliamentary committee was scheduled to review the performance of regulatory bodies established by Parliament. Representatives from the finance ministry and the SEBI were invited to provide oral evidence.


The panel chairperson said that the meeting has been postponed due to Buch's unavailability, following which PAC member and BJP MP Ravi Shankar Prasad accused chairman Venugopal of taking suo motu decisions.

He also said that several PAC members, including those from the BJP and its alliance partners, are approaching LS Speaker Om Birla against Venugopal's conduct.

The PAC is also examining matters related to the Department of Telecommunications and that meeting will go ahead as scheduled during the post-lunch session.

The inclusion of SEBI's performance review in the agenda was not contested. However, summoning SEBI Chairperson Madhabi Puri Buch has caused tension among ruling party members. Buch has been involved in a political controversy following allegations of conflict of interest by US firm Hindenburg Research.