More trouble coming for SEBI chief Madhabi Puri Buch? Congress to 'reveal startling details' soon

The Congress party, continuing its criticism of Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch, announced that it will make "startling revelations" about her today at 12 pm today.

"SEBI Chief’s saga of conflict of interest continues to tumble. Startling revelations today at 12 noon," said the grand old party in a post on X.



The party last week had alleged that she and her husband received rental income from a Mumbai firm that had been investigated by Sebi for multiple cases.

Congress spokesman Pawan Khera had claimed that Buch and her husband own a property in Mumbai which was given on rent to a company called Carol Info Services Ltd, which is part of Wockhardt Ltd. He further claimed that during 2018-2024, Buch, while being a whole-time member and later chairperson of Sebi, received rental income amounting to ₹2.16 crore from Carol Info Services Limited and alleged it amounted to a clear conflict of interest and corruption.

"This is not just a conflict of interest, but a case of out-and-out corruption. Is it ethical, is it legal? Khera said. "Buch is the chairperson of the same organisation, Sebi, which has complaints against Wockhardt before it. There was a case of insider trading too. Buch's organisation dealt with insider trading case of Wockhardt too. This is a conflict of interest, I would call it corruption."