SEBI chief Madhabi Puri Buch has stated that she has fully complied with all disclosure and recusal requirements established by the markets regulator. This response comes in light of criticism from Hindenburg Research and opposition political parties regarding alleged conflicts of interest in investigations involving the Adani Group and other corporations.
According to a statement, “Madhabi has not been involved with any files related to Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr. Reddy’s, Alvarez and Marsal, Sembcorp, Visu Leasing, or ICICI Bank at any time since joining SEBI.”
Since her appointment as a whole-time member of SEBI in 2017, Madhabi Puri Buch has consistently disclosed her shareholding in Agora Advisory and has transparently declared her stake in Agora Partners, the statement emphasized.
The statement further added, “Based on these facts and communications from the involved companies, the allegations are entirely false, malicious, and defamatory.”
Regarding the allegations of rental income, the Buch family clarified: “Questions have been raised about the rental income from a property owned by Madhabi and Dhaval. The property was leased out in the usual course of business, and it later emerged that the lessee was affiliated with Wockhardt, a listed company that was under investigation. Madhabi has had no involvement with any files concerning Wockhardt.”
