Congress questions ICICI on Buch’s payments

SEBI chairperson Madhabi Puri Buch. File pic/PTI

The Congress on Tuesday questioned the ICICI Bank's assertion that it had not paid any salary or granted ESOPs to SEBI Chairperson Madhabi Buch after her retirement and asked that if the amount paid to her was her "retiral benefit", why was it non-uniform both in terms of its frequency and amount.

The Opposition party levelled fresh conflict-of-interest allegations against Buch and asked PM Narendra Modi to come clean as the head of the Appointments Committee of Cabinet on her appointment.

It alleged that since Buch took office in 2017, she has not only been drawing a salary from the SEBI but has also been holding an office of profit at the ICICI Bank, continuing to receive income from the bank to this very day. Subsequently, the bank said it has not paid any salary or granted ESOPs to Buch after her retirement on October 31, 2013, as alleged by the Congress.

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever