Conflict of Interest Allegations Rock SEBI Leadership

The Congress accused SEBI chairperson Madhabi Buch of conflicts of interest, alleging financial misconduct and failure to disclose assets. The party criticized Finance Minister Nirmala Sitharaman for inaction, demanding a joint parliamentary committee investigation into the issues. They claimed these allegations undermine government transparency and investor confidence.

The Congress has intensified allegations against SEBI chairperson Madhabi Buch, accusing her of severe conflicts of interest. They alleged that Buch received payments from ICICI Bank while regulating it and traded in securities with access to sensitive information. These actions, they claim, breach SEBI's ethical standards.

During discussions in Lok Sabha, Congress MP K C Venugopal demanded a joint parliamentary committee probe, arguing that Finance Minister Nirmala Sitharaman's failure to address these claims jeopardizes government credibility. The accusations include Buch's alleged nondisclosure of overseas assets and rental income links to entities under SEBI investigation.

Union minister Kiren Rijiju refuted Congress's claims, arguing that such projects were granted during Congress's tenure. However, Congress persists, asserting these issues undermine both domestic and foreign investor confidence in India's main financial oversight body.

(With inputs from agencies.)