The Awadh Times, Finance Desk : Madhabi Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), is the subject of significant news. During the most recent session of Parliament, her name was brought up in a great deal of conversation.
Both she and her family, as well as the BJP, were blamed by the Congress party, who stated that there was widespread corruption. In addition to this, it was asserted that Madhabi Buch, the Chairperson of SEBI, is abusing her position. On the other hand, there cannot be any evidence found against her.
The information indicates that Madhabi Buch will bring her remaining tenure to a successful conclusion. She will continue to serve as the head of SEBI until the month of March.
Accusation 1 of the Madhabi Puri Buch book
The Chairperson of SEBI, Madhabi Puri Buch, advocated for the establishment of REITs, which resulted in benefits for Blackstone. Blackstone, in turn, profited for her husband, who is involved with Blackstone.
Her push for REIT was done with the goal of helping Blackstone, as her husband is involved with Blackstone. The opposition also pointed fingers at her and said that she is exploiting her position as SEBI Chairperson. This was one of the primary arguments that Congress brought up against Madhabi Buch from the oppositional side.
Ajay Tyagi stepped down as Chairperson of the Securities and Exchange Board of India (SEBI) on March 1, 2022, and Madhabi Buch became the new Chairperson of SEBI on that same day. The notion of REIT was initially proposed in 2007, during the time of the United Progressive Alliance (UPA).
She is credited with bringing about significant changes in the way SEBI’s operations are carried out, and these changes have had an impact not only on Blackstone but also on a great number of international businesses that are active in India. According to sources within the government, India Today has been informed that these claims are without foundation and that politics is being played in her name.
In the second allegation, Madhabi Puri Buch
She did not disclose the money that she received from her former tenure at ICICI, which was the second severe claim that was made against the chairperson of SEBI. The money that she earned from her previous tenure at ICICI was not declared. These charges have been reviewed by the government, and it has been determined that there was no illegal transaction involved; she has paid all of her obligations.
ICICI Bank made it clear that she did not get any income or ESOP when she retired in October of 2013. Instead, she was simply provided with retirement benefits, which are the same benefits that are provided to everyone else in that job.
Buch spent a total of twelve years working for the private sector lender. Subsequently, he was the Chief Executive Officer of ICICI Securities for a period of two years until departing from the organization in 2011.
It was not just Buch who received the amount after he retired from ICICI; retirement perks are provided to all senior managers of leading banks. Buch was not the only one who received that amount. The wrongdoing of a single individual was not the only instance of this.
ICICI Bank made it clear that after his retirement in October 2013, he did not get any salary or ESOP benefits; rather, he received just retirement benefits, which are the same benefits that are provided to all other employees in that position.
After working for the private sector lender for a period of twelve years, Buch went on to become the Chief Executive Officer of ICICI Securities for a period of two years before departing from the organization in 2011.
It was not just Buch who received the amount after he retired from ICICI; retirement perks are provided to all senior managers of leading banks. Buch was not the only one who received that amount. The wrongdoing of a single individual was not the only instance of this.
Allegation 3 Relating to Madhabi Puri Buch
An further front had been opened for Buch as a result of letters that were submitted to the Finance Ministry by workers working in SEBI. These letters had caused fury not only within the market regulator but also throughout the existing political system.
It was brought to the attention of the Ministry of Finance by staff members that the work environment under her direction is unfavorable. After taking notice of this, the government had a conversation with the staff members.
It has been stated by the staff members that she yells at them. According to the government, Madhabi Puri Buch, in his capacity as chairman of SEBI, has exerted a great deal of effort to clean up the system. However, a great number of individuals are dissatisfied with the way in which this system has been cleaned up.
After careful consideration, the government has determined that Madhabi Puri Buch will serve out the remainder of her tenure, which will come to an end on February 28, 2025.
