Tue Sep 17 04:57:34 UTC 2024: ## Godrej CEO Defends Sebi Chair’s Husband Amid Conflict of Interest Claims

**New Delhi:** Godrej Consumer Products MD & CEO Sudhir Sitapati has come out in strong defense of Dhaval Buch, husband of Sebi Chairperson Madhabi Puri Buch, amidst ongoing allegations of conflict of interest. Sitapati, who worked with Buch at Hindustan Unilever for 22 years, vouched for his integrity and dismissed claims that his consultancy work while his wife led Sebi posed a conflict.

The controversy arose after reports surfaced suggesting that Dhaval Buch earned Rs 4 crore for consulting assignments, leading to speculation about potential quid pro quo arrangements. Sitapati countered this, stating that such compensation is standard practice in the private sector for someone of Buch’s qualifications.

He further highlighted the discrepancy in operating principles between the private and public sectors. In the private sector, he explained, transparency and disclosure are key, while in the public sector, strict adherence to regulations is paramount. This difference, according to Sitapati, can lead to misunderstandings when professionals transition from the private to public sector.

He warned that if the current climate persists, senior professionals might be discouraged from taking up government roles, ultimately depriving India of valuable private sector expertise. Sitapati advocated for a more nuanced understanding of the different systems and urged a re-evaluation of “socialist biases” against the private sector.

The controversy stems from allegations by the Congress party, accusing Madhabi Puri Buch of financial impropriety and claiming Dhaval Buch profited from consulting assignments while Sebi was investigating companies. However, Madhabi Puri Buch has vehemently denied these claims, maintaining that she made all necessary disclosures and followed recusal guidelines.

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