Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (Sebi), and her husband, Dhaval Buch, have denied recent allegations of impropriety and conflict of interest made by the Congress party. They described the accusations as "incorrect, motivated, and defamatory."
In a statement, the Buchs claimed that the allegations, which relate to their Income Tax returns, are unfounded. They asserted that all financial information has been fully disclosed and taxes have been properly paid.
“Our income tax returns have been obtained through fraudulent and illegal means,” the statement said. “This not only breaches our right to privacy but also violates the Income Tax Act.”
The Congress has alleged that Dhaval Buch received Rs 4.78 crore from the Mahindra Group while Sebi was investigating the company for market infractions. They also suggested a conflict of interest involving a consultancy firm connected to the Buchs.
In response, the Buchs have stated that Madhabi Puri Buch has never been involved in any matters related to Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr Reddy’s, Alvarez and Marsal, Sembcorp, Visu Leasing, or ICICI Bank since joining Sebi.
“The allegations are completely false, malicious, and defamatory,” the statement continued. “Madhabi has adhered to all Sebi disclosure and recusal guidelines and has maintained a proactive recusal list beyond the required guidelines.”
Follow us
