Hindenburg Research flags allegations against Sebi chief Buch.
Short-selling firm Hindenburg Research has flagged several allegations against Sebi chairperson Madhabi Puri Buch. In a post on social media, it said Buch has maintained silence for weeks on emerging issues concerning her.
Hindenburg alleged Buch’s private consultancy firm in India accepted payments from listed companies regulated by Sebi, including Mahindra, ICICI Bank, Dr Reddy’s, and Pidilite, during her tenure as a whole-time member.
Meanwhile, the opposition Congress party has claimed the consultancy earned Rs 3 crore, mostly from Mahindra, when Buch was a Sebi member.
Congress spokesperson Pawan Khera said this involves wilful concealment, lying, and a criminal conspiracy in its execution. Mahindra Group has denied the allegations as false and misleading.
As the claims surface, Buch is facing flak for not addressing the issues against her so far in her current role as Sebi chief. Regulatory and government bodies may probe the matter to ascertain the facts.
