SEBI chief got rent from entity linked to firm under probe, alleges Cong
06-Sep-2024 06:10 PM 1602
New Delhi, Sep 6 (Reporter) Continuing its attack on Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch, the Congress on Friday accused her of receiving "rental income'" from an entity affiliated with a company that the regulatory body was investigating for various cases, including that of insider trading. Addressing a press conference at the All India Congress Committee headquarters here, Congress spokesperson Pawan Khera said, “In 2018, Madhabi Puri Buch become the whole time member of SEBI and rented out one of her properties.” “In the financial year 2018-19, she received a rent of Rs 7 lakh on it. She received rent of Rs 36 lakh for the same property in 2019-20, which increased to Rs 46 lakh this year. The name of the company to which Madhabi Puri Buch gave her property is Carol Info Services Limited which is affiliated to Wockhardt Limited," he said. "Wockhardt Limited was under SEBI's investigation for various cases, including that of insider trading, during 2023,” Khera alleged. Demanding a reply from Prime Minister Narendra Modi, Khera asked, "Was SEBI Chairperson's appointment in March 2022 approved with the understanding that she could maintain prior financial ties as long as she aligned with the PM's wishes? Why was there no effort to ensure Ms Buch adhered to conflict of interest standards, unlike her predecessors, or was this oversight part of a mutually beneficial arrangement?" Khera said that this matter related to Buch was very serious. "Crores of people of the country trust SEBI. If a question mark is raised on this, then the investment of the public will be put into question. At the same time, the Prime Minister of this country is not worried about the country's reputation - this is our biggest concern," he said...////...
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