Not paid any salary or ESOPs to Madhabi Buch post-retirement: ICICI Bank issues clarification on SEBI Chief

economictimes.indiatimes.com:

Madhabi Buch drawing salary post retirement from ICICI Bank, the private lender on Monday issued clarification by saying no salary or ESOPs were given to the SEBI chief.

“ICICI Bank or its group companies have not paid any salary or granted any ESOPs to Ms. Madhabi Puri Buch after her retirement, other than her retiral benefits. It may be noted that she had opted for superannuation with effect from October 31, 2013," said ICICI bank in the statement.

«All the payments made to Ms. Buch post her retirement had accrued to her during her employment phase with the ICICI Group. These payments comprise ESOPs and retiral benefits,» added the bank in the statement.

The Congress on Monday levelled fresh conflict of interest allegations against SEBI Chairperson Madhabi Buch and asked Prime Minister Narendra Modi to come clean as the head of the appointments committee of the cabinet on her appointment. The opposition party said the Supreme Court should take cognisance of these fresh revelations and demanded that the Securities and Exchange Board of India (SEBI) chairperson should be dismissed immediately.

At a press conference, the Congress alleged that since the current SEBI chairperson took office in 2017, she has not only been drawing a salary from SEBI but has also been holding an office of profit at the ICICI Bank, continuing to receive income from them to this very day.

(more to come)