ICICI Bank Denies Post-Retirement Payments to SEBI Chairperson Amid Fresh Allegations

ICICI Bank clarifies that it has not paid any salary or granted ESOPs to SEBI chairperson Madhabi Puri Buch after her retirement in 2013. This rebuttal follows Congress' allegations that Buch received Rs 16.8 crore post-retirement. Congress questions potential conflicts in SEBI's investigations into Adani Group violations.

ICICI Bank on Monday categorically denied allegations by Congress that it has paid any post-retirement salary or ESOPs to SEBI chairperson Madhabi Puri Buch after her retirement on October 31, 2013.

Earlier in the day, Congress claimed Buch, who joined SEBI in 2017 and became its chairperson, got Rs 16.8 crore from ICICI Bank, pointing to a potential conflict of interest in SEBI's investigations into the Adani Group.

ICICI Bank emphasized that all payments to Buch after her retirement were accrued during her tenure with the company and included ESOPs and retiral benefits. The bank further clarified that such payments adhere to income tax regulations, emphasizing transparency and adherence to the legal framework.

(With inputs from agencies.)