Sebi chief still draws salary from ICICI: Congress

Madhabi Puri Buch

The Congress on Monday levelled fresh conflict of interest allegations against SEBI Chairperson Madhabi Buch and asked Prime Minister Narendra Modi to come clean as the head of the appointments committee of the cabinet on her appointment.

At a press conference, the Congress alleged that since the current SEBI chairperson took office in 2017, she has not only been drawing a salary from SEBI but has also been holding an office of profit at the ICICI Bank, continuing to receive income from them to this very day.

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Congress president Mallikarjun Kharge said since the SEBI chairperson was appointed by the Narendra Modi-Amit Shah-led committee (appointments committee of the cabinet), they cannot absolve themselves, from the new revelations involving charges of corruption. ICICI 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.

"ICICI Bank or its group companies have not paid any salary or granted any ESOPs to Madhabi Puri Buch after her retirement, other than her retiral benefits. It may be noted that she had opted for superannuation with effect from October 31, 2013," the bank said in a statement.

Sebi chief dodges REITs questions

Capital markets regulator Sebi Chief Madhabi Puri Buch on Monday refrained from commenting on the investment vehicle, Real Estate Investment Trusts (REITs), saying if she comments on the subject she will be accused of conflict of interest. The remarks came as US short-seller Hindenburg Research raised questions about a potential conflict of interest involving Buch and private equity major Blackstone.

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