'Madhabi Buch investing in Chinese firms': Congress ups ante against Sebi chief

NEW DELHI: Congress on Saturday levelled fresh allegations of conflict of interest against Sebi chief Madhabi Puri-Buch, accusing her of making "high value investments" outside India including Chinese firms, amid rising geopolitical tensions with the neighbouring country.

The grand old party also accused Buch of trading in listed securities while being in possession of unpublished price sensitive information.

Madhabi Buch and her husband Dhaval had issued a statement on Friday calling all the allegations "completely false, malicious and defamatory."


Posing the question to Prime Minister Narendra Modi again, senior Congress leader Pawna Khera said, "Is the PM aware that Ms Madhabi Puri Buch has made high value investments outside India? If yes, what is the date of investment and date of disclosure?"

"Is the PM aware that the Sebi chairperson has been investing in Chinese firms at a time when India is facing geopolitical tensions with China?" he added.


The statement by the Buchs on Friday also denied allegations of the former having 99% stake in Agora Advisory Pvt, a firm which provided consultancy services to Mahindra and Mahindra, Dr Reddy's and Pidilite among others. It said that Dhaval received Rs 4.78 crore income from M&M Group while Sebi chief was arbitrating cases from the group.

"Madhabi has never dealt with any file involving Agora Advisory, Agora Partners, the Mahindra Group, timesofindia Pidilite, Dr Reddy’s, Alvarez and Marsal, Sembcorp, Visu Leasing or ICICI Bank at any stage after her joining Sebi," the statement by Madhabi and Dhaval read.

The response, however, came after Hindenburg Research on Wednesday highlighted that Sebi chief has remained "completely silent" for weeks, even as multiple entities have introduced new charges.
Select The Times of India as your preferred source on Google Search

Get the latest lifestyle updates on Times of India, along with Valentine's day wishes, messages and quotes !