SEBI Chief Madhabi Puri Buch Defends Conflict of Interest Allegations; Calls It False and Malicious

SEBI Chief Madhabi Puri Buch has responded to accusations from both US-based short-seller Hindenburg Research and opposition political parties regarding alleged conflicts of interest in investigations related to the Adani Group and other corporations.

In a statement, Buch firmly rejected the claims, labeling them as completely false, malicious, and derogatory. She emphasized that since joining SEBI as a full-time member in 2017, she has adhered to all disclosure and recusal guidelines. Buch clarified that she has not been involved in any cases related to Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr. Reddy’s, Alvarez & Marsal, Sembcorp, Visu Leasing, or ICICI Bank after assuming her role at SEBI.

SEBI Chief Madhabi Puri Buch and her husband Dhaval Buch issue a joint statement in personal capacity on recent events

"Madhabi has never dealt with any file involving Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr Reddy’s, Alvarez and Marsal, Sembcorp, Visu… pic.twitter.com/l09fznJCdf

— ANI (@ANI) September 13, 2024

She noted that she has consistently disclosed her shareholding in Agora Advisory and Agora Partners. Regarding the issue of rental income from a property leased to an associate of Wockhardt, a listed company under investigation, Buch stated that she has not handled any files related to Wockhardt.