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Congress fires fresh salvo at Sebi chief over rental income
Business Standard
|September 07, 2024
The Congress on Friday levelled fresh allegations against chairperson of the Securities and Exchange Board of India (Sebi) Madhabi Puri Buch, claiming that she received rental income from an entity affiliated with a company the market regulator was probing for various violations, including insider trading.
The opposition party said that in the last six financial years between FY19 and FY24 - Buch earned a total rental income of $2.16 crore from Carol Info Services, a company linked to Wockhardt that Sebi has been involved with in various cases. Buch was a whole-time member (WTM) with Sebi between April 2017 and October 2021 and took charge as its chief in March 2022. The Congress accused Buch of maintaining this financial relationship while overseeing Sebi's investigation into Wockhardt and claimed that it constituted a conflict of interest.
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