Sebi Chief Refutes Conflict of Interest Allegations

Sebi chairperson Madhabi Puri Buch, alongside her husband Dhaval Buch, has denied allegations of impropriety concerning her dealings with companies such as Mahindra Group. Addressing various accusations including conflicts of interest and improper financial receiving, the Buchs refuted the claims as 'false, malicious and defamatory'.

Sebi chairperson Madhabi Puri Buch on Friday firmly denied allegations of conflicts of interest and impropriety regarding her dealings with companies like Mahindra Group, which employed her husband.

In a detailed joint statement, Buch and her husband Dhaval Buch addressed accusations, including those spurred by Hindenburg Research and the opposition Congress. The allegations suggested she was not adequately motivated to investigate the Adani group due to these conflicts.

Describing the allegations as 'false, malicious, and defamatory,' the Buchs emphasized their professional integrity and transparency, highlighting that Madhabi had complied with all Sebi guidelines. They hinted at taking appropriate legal actions against the 'motivated' accusations aimed at maligning their reputations.

(With inputs from agencies.)