Tue Sep 03 08:27:29 UTC 2024: 1. ICICI Bank denied allegations of paying salary or granting stock options to Sebi chair Madhabi Puri Buch after her retirement, stating that all payments made to her accrued during her employment with the group.
2. Indian National Congress spokesperson Pawan Khera alleged that Buch received significant income from ICICI Bank and ICICI Prudential between FY18 and FY24, violating employee service regulations and conflict of interest codes.
3. Buch’s term as Sebi chairperson ends in March next year, with allegations of conflicts of interest and lack of disclosure regarding past ESOPs.
4. Securities lawyer Chirag M Shah clarified that ESOPs become the absolute property of the employee after vesting and are no longer linked to employment, requiring disclosure as mandated by law.
5. Former Sebi official Sumit Agrawal stated that the situation involving deferred wages, salary, ESOPs, and other financial elements is governed by various legal frameworks and regulations, each requiring different disclosures and considerations.

Read More