Baby Chakraborty:- Union Finance Minister Nirmala Sitharaman opened up for the first time about the controversy surrounding Sebi Chairperson Madhavi Puri Buch. On this day, Sitharaman said, Butch and her husband Dhabal Butch have given the true explanation of several allegations made against them. He also addressed concerns raised by the opposition Congress over payments received by Madhavi Buch and her husband Dhabhal Buch from her former employer ICICI Bank. When he served as a whole time member of SEBI. This is their second statement following a complaint by US-based short seller Hindenburg Research which claimed that Buch lacked motivation to resolve allegations against the Adani Group due to potential conflicts of interest.
The Buchs also clarified in their statement that Madhavi Buch did not manage any files related to Agora Advisory and Agora Partners – companies in which she holds 99 per cent stake and continued to generate revenue even after joining Sebi in 2017. At a press conference at the AICC headquarters of the All India Congress Committee, Congress spokesperson Pawan Khera alleged that between 2017 and 2023, Buch traded in listed securities worth Rs 36.9 crore while working as a full body member and later as Sebi chairperson. This is a violation of Section 6 of Sebi’s Code on Conflict of Interest for the Members of the Board, 2008. He also gave a year-wise breakdown of total transactions in securities which totaled more than ₹36.9 crore. He said that we have information, between 2017 and 2021, Madhavi Buch had foreign assets. We hereby ask: When did he first declare foreign assets and to which agency of the government? Now the point is that Miss Madhavi P Butch was actively involved with Agora Partners Pte Singapore as she was a signatory to the bank account? A part of the political circles is looking at how true this incident is.
