Madhabi Puri Buch. File
| Picture Credit score: Reuters
Hindenburg Analysis alleged Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch of not responding to “rising points”, a day after the Congress alleged her of having 99% stake in a consultancy company that supplied providers to entities regulated by SEBI.
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In its publish on X, the quick vendor analysis agency mentioned that Agora Advisory, a consultancy agency that it mentioned was owned by Ms. Buch, supplied providers to listed entities together with Mahindra and Mahindra, ICICI Financial institution, Dr. Reddy’s and Pidilite, whereas she was serving as a complete time member in SEBI. Comparable allegations had been levelled by the Congress on Tuesday (September 10, 2024) in a press briefing, which Dr. Reddy’s, Pidilite and Mahindra and Mahindra had denied in regulatory filings.
“These allegations apply to Ms. Buch’s Indian consulting entity with no particulars to this point on Ms. Buch’s Singapore-based consulting entity. Ms. Buch has maintained her full silence for weeks on the entire rising points” Hindenburg mentioned on September 11, in its publish on X.
Additionally Learn | On SEBI chairperson’s conflicts of interests
The Congress had claimed that Agora Advisory had continued to offer providers to listed entities, opposite to an earlier assertion by Ms. Buch saying the corporate had turn out to be dormant after she took up her function at SEBI.
Along with this, the Congress additionally claimed that Ms. Buch’s partner Dhaval Buch, was drawing income from Mahindra and Mahindra after his retirement. Mahindra and Mahindra denied these allegations.
Printed – September 11, 2024 01:34 pm IST
