Madhabi Puri Buch News

Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a «world-class job» and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be «extremely conscious» about contributions made by them as well.

Sebi) on Monday reviewed the performance of the Beta version of the optional T+0 settlement cycle and enhanced its scope by approving an increase in the number of scrips eligible for trading from 25 to top 500 listed companies in terms of market capitalisation. It will be done in a phased manner, a Sebi release said.

Sebi) is set to hold a crucial board meeting on Monday, its first gathering following the allegations of conflict of interest against chairperson Madhabi Puri Buch by US-based Hindenburg Research and India's Congress party. The board is likely to take cognisance of the conflict of interest accusations and the issues arising from the withdrawn press release on employee matters. Although these topics are not on the official agenda, they may be informally discussed, according to people with knowledge of the matter. «Between the last board meeting and Monday's meeting, any significant event concerning the institution, its board members, including the chairperson, has to be taken note of by the board,» said one of them.

Sebi) is on the verge of introducing MF- Lite regulations for passive funds, its chief Madhabi Puri Buch said on Thursday. “We had a very detailed consultation on that and if as a part of that you feel that there needs to be relaxation in terms of how to do distribution of those kind of passive funds. We are open to any kind of suggestions so that we can facilitate growth of these funds across the country,” Buch said at an industry event.

Subscribe to enjoy similar stories. The Securities and Exchange Board of India (Sebi) is trying to dial back tensions with its staff members who had complained of a “toxic" work environment.

toxic work culture" and demanding the resignation of Sebi chief Madhabi Puri Buch, the markets regulator on Monday withdrew its earlier statement blaming «external elements» for the protests. In a fresh statement issued to the media during the day, Sebi said that its earlier press release issued on 4th September, after which scores of its employees gathered around the regulator's headquarters in Mumbai's BKC to stage a silent protest against their boss Buch, stands withdrawn.

Sebi chairperson Madhabi Puri Buch has traded in listed securities worth about Rs 37 crore during her tenure at the regulatory body, violating its conflict-of-interest policy, Congress alleged on Saturday in a fresh salvo against her. The country's main opposition party also accused Buch of making investments abroad including in Chinese funds.

Sebi) Chief Madhabi Puri Buch stated on Friday that she had complied with all disclosure and recusal guidelines issued by the regulator. In a personal statement, the head of India's market regulator declared that all allegations against her were completely false, malicious, and derogatory.

Securities and Exchange Board of India won’t make it go away. Nor will chair Madhabi Puri Buch’s decision to stop answering questions about her potential conflict of interest prevent the opposition Congress Party or Hindenburg Research from asking them. Buch, the first SEBI chief from the private sector, is yet to respond to the opposition party's repeated questioning of her income sources, though she was quick to deny the short seller’s criticism of her past investments. Also Read: Madhabi Buch maintained complete silence for weeks: Hindenburg

Madhabi Buch has maintained her complete silence for weeks on all of the emerging issues. «Buch has maintained her complete silence for weeks on all of the emerging issues,» said the shortseller in a post on X. In reaction, Hindenburg said «New allegations have emerged that the private consulting entity, 99% owned by SEBI Chair Madhabi Buch, accepted payments from multiple listed companies regulated by SEBI during her time as SEBI Whole-Time Member. The companies include: Mahindra & Mahindra, ICICI Bank, Dr. Reddy’s and Pidilite. These allegations apply to Buch's Indian consulting entity with no details thus far on Buch's Singapore-based consulting entity.»

Congress leader Saugata Roy on Tuesday demanded calling SEBI chairperson Madhabi Puri Buch, who faced allegations of conflict of interest, before the Parliament's Public Accounts Committee, sources said. At a meeting convened to take up the performance audit of Jal Jeevan Mission, Roy said Buch should depose before the panel.

Wockhardt has denied 'conflict of interest' and 'corruption' allegations made by the Congress party against Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch over rental payments made by its affiliate Carol Info Service, even as the Mumbai-based drugmaker is involved in multiple cases with market regulator, including that of insider trading. Wockhardt called the allegations 'baseless and misleading'. «It has come to our attention that there are certain allegations pertaining to payment of rent by Carol Info Services Limited and its connection with certain orders passed by SEBI in relation to the Company,» the company said in a statement to exchanges on Friday evening.

Wockhardt shares fell 5% to hit the day's low of Rs 1,034.55 on the NSE on Friday after Congress leader Pawan Khera accused Sebi chief Madhabi Puri Buch of a conflict of interest with the pharma company. Khera in a press conference held today, accused Buch of corruption and insider trading. Khera alleged that Buch and her husband own a property in Mumbai, which was given on rent to a company called Carol Info Services Ltd, and is a part of Wockhardt Ltd., a firm that SEBI has been involved with in multiple cases.

Sebi officers across grades protested Thursday at the headquarters of the capital markets regulator in Mumbai’s financial nerve centre, demanding the resignation of chairperson Madhabi Puri Buch while also seeking withdrawal of the organization’s media statement that described their letter to the Centre as a likely fallout of instigation by unidentified ‘external elements’. The silent protest held within the premises of Sebi Bhavan, in Bandra Kurla Complex, lasted for one and a half hours. This is the second silent protest by the officers this year after their complaints about HR issues to the top management went unheard. The first protest—a 15-minute sit-in — was held on August 5, a day before the employees sent their complaint to the finance ministry.

SEBI chief Madhabi Puri Buch, Congress leader Pawan Khera on Friday levelled charges of insider trading and corruption. He also accused Buch and her husband of owning a company in Mumbai. «The company is called Carol Info Services Ltd. This is a part of a company called Wockhardt Ltd, they have the same promoters. Wockhardt is a company on which SEBI is continuously giving orders and dealing with its cases,» said Khera.

Public Accounts Committee (PAC) is set to look into allegations against Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch and may summon her later this month, said people with knowledge of the matter. The matter was added to the PAC's agenda after several members demanded an inquiry into the functioning of Sebi and allegations against Buch at the panel's first meeting on August 29. The PAC is headed by Congress leader KC Venugopal and has members from both the ruling NDA and the opposition INDIA bloc. The agenda item doesn't specify the regulator or name the chief. It's listed as «Performance review of regulatory bodies established by act of parliament.» However, officials said it stemmed from the recent allegations against the Sebi chief. «The matter was added on suo moto basis in the August 29 meeting as many members were concerned about the serious allegations against the capital market regulator and the Sebi chief,» said one of the persons. «The concerned ministry officials may be summoned this month.»

Sebi employees on Thursday gathered around the headquarters of the markets regulator in Mumbai and staged a silent protest demanding the withdrawal of Wednesday's statement blaming «external forces» for the protest and also sought the resignation of their boss Madhabi Puri Buch. After The Economic Times reported that Sebi officials made an unprecedented complaint to the finance ministry last month and accused the top leadership of fostering a toxic work culture, the regulator issued a press release on Wednesday evening saying that HRA (house rent allowance) issues of staff are being misguided by external elements to target credibility of Sebi and its leadership.

Sebi chief Madhabi Puri Buch. In an X post on September 4, Mumbai Congress took note of Sebi's «internal rot». It is shocking to see Sebi's internal rot exposed by its own employees, the post read. «Allegations of a 'toxic work culture' under Madhabi Puri Buch, with accusations of shouting, fear-driven policies, and regressive practices, raise serious concerns,» it further said.

Securities and Exchange Board of India (Sebi) officials made an unprecedented complaint to the finance ministry last month, accusing the capital and commodities market regulator's leadership of fostering a toxic work culture. «Shouting, scolding and public humiliation have become a norm in meetings,» said the August 6 letter, which ET has reviewed. The communication has come to light at a time when Sebi chairperson Madhabi Puri Buch is facing accusations of conflict of interest over the regulator's Adani inquiry and the Opposition has raised questions over compensation paid to her by former employer ICICI Bank. Zee Group founder Subhash Chandra accused her of corruption on Tuesday. Buch has denied any wrongdoing as has ICICI Bank. Sebi said matters with employees have been resolved. «The issues referred in your mail have already been addressed by Sebi,» the regulator said in an email.

₹250-per-month micro-SIP, chairperson Madhabi Puri Buch said. It would add another rung in India’s financial inclusion ladder. Mint explains what micro-SIPs are and what the industry thinks of them.

Congress on Monday charged Securities & Exchange Board of India (Sebi) chairperson Madhabi Puri Buch of receiving remuneration from private entities such as ICICI Bank and ICICI Prudential even while heading the regulatory body. Congress leader Pawan Khera alleged that Buch received ?16.8 crore from ICICI since joining Sebi in 2017. While Khera refused to divulge the source of this information saying Buch should prove the figures are wrong, he added that this amount was 5.09 times more than her salary of ?3.3 crore from Sebi during the corresponding time frame. Hours later, ICICI Bank refuted the charges and it has not paid any salary or granted ESOPs to Buch after her retirement.