Congress demands independent inquiry into allegations against SEBI chairperson Madhabi Puri Buch
Party leader Praveen Chakravarty questioned the government’s ‘hesitation to conduct an impartial, objective inquiry’ against the chief of the markets regulator.
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The Congress on Thursday demanded an independent inquiry into the allegations against Securities and Exchange Board of India chairperson Madhabi Puri Buch, saying that “lots of skeletons” were tumbling out of the cupboard of the markets regulator.
At a press conference, Praveen Chakravarty, a former investment banker and chairman of the Congress professionals’ wing and data analytics department, questioned the government’s “hesitation to conduct an impartial, objective inquiry” against Buch.
The Congress’ demand comes amid several allegations of misconduct against Buch, including that she received more money as a pension after retiring from ICICI Bank than the salary she drew while working there. Buch retired from ICICI Bank in October 2013. She had joined the bank in 2007.
The claims about the pension, which were made by the Congress on Tuesday, came a day after ICICI Bank denied paying a salary or granting Employee Stock Ownership Plan benefits to Buch after she retired from the company.
An Employee Stock Ownership Plan gives employees of a company an ownership stake in the form of equity shares.
The bank was responding to allegations made by the Congress on Monday that Buch drew an income of Rs 16.8 crore from the ICICI Bank between 2017 and 2024.
The Opposition party alleged that this presented a conflict of interest as Buch had joined...
