Fri Sep 13 17:55:55 UTC 2024: ## SEBI Chief Denies Conflict of Interest Allegations, Calls Congress Claims “False and Malicious”
**Mumbai, India:** The Securities and Exchange Board of India (SEBI) Chairperson, Madhabi Puri Buch, has vehemently denied allegations of conflict of interest leveled against her by the Congress party. The party had accused Buch of earning over Rs 2 crore in rent from a firm linked to the Wockhardt Group while SEBI was investigating the company for alleged insider trading.
Buch, in a statement, called the allegations “defamatory, false, and vexatious.” She clarified that the luxury apartment in question was leased out in 2018-19 to Carol Info Services Ltd., a subsidiary of Khorakiwala Holdings and Investments Private Ltd (KHIPL), and that the rental income was in line with market rates.
SEBI further stated that the probe into Wockhardt’s insider trading began in 2022, after the lease agreement was concluded. The first showcause notice to Wockhardt was issued on September 05, 2022.
Buch also addressed allegations regarding her involvement in investigations against other listed entities, stating that she had never dealt with any file involving Agora Advisory, Agora Partners, the Mahindra Group, Pidilite, Dr Reddy’s, Alvarez and Marsal, Sembcorp, Visu Leasing, or ICICI Bank since joining SEBI. She also maintained that she has consistently disclosed her shareholding in Agora Advisory and Agora Partners.
The SEBI spokesperson asserted that Buch has no conflict of interest and that the allegations are baseless and aimed at tarnishing her reputation.
First Piper 