In a fresh set of allegations, Congress accused the Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch for an “out and out corruption” after the main Opposition party revealed that the market regulator was involved in several cases, including charges of insider trading, against two companies linked to the market regulator chairperson.
Congress spokesperson Pawan Khera alleged that Buch rented out her properties to Carol Info Services, which is part of Wockhardt, against whom the market regulator is investigating several cases including that of insider trading.
“Madhabi Puri Buch ji had become the whole-time member of Sebi in 2018. Now after becoming a whole-time member, she rented out one of his 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 a part of Wockhardt company,” Khera said.
He further added, “Wockhardt is the same company whose complaints are being continuously dealt with by Sebi. This is completely a case of corruption.”
Khera alleged that Buch, after assuming the role of whole-time director, rented out her home to a company from which she received Rs 2.16 crore as rent.
“So we want to know where did you give this information? Is it right that you rent your property to a company whose cases you are handling? Is this ethically and legally correct?”
Khera said the issues related to the Sebi chairperson is very serious and the party is receiving new information every day.
“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.”
The Congress leader also attacked PM Modi and asked if there was any agreement that the government won’t interfere in companies linked to Sebi chief. “What boon did Prime Minister Narendra Modi give to Madhavi Buch ji that whatever she does is forgiven?,” he asked.
