The Opposition Congress on Monday alleged that Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch continued to "draw salary" from her previous employer ICICI Bank despite being appointed a whole-time member (WTM) of the market regulator. ICICI Bank has dismissed these allegations.
Addressing a press conference, the Congress' media and publicity department head, Pawan Khera, alleged that Buch earned 16.8 crore from the ICICI group while being an official at the market regulator and raised potential conflict of interest.
Speaking at a session by CII in Mumbai on Monday, Buch,did not respond to questions on the fresh allegations.
However, in her address she said, "Even if I talk about Reits (real estate investment trusts), I am accused of having a conflict of interest." ICICI Bank, however, refuted the claims, saying Buch was not paid any salary or granted any employee stock ownership plan (Esops) after her retirement in October 2013. In a stock exchange filing, the private sector lender said all payments made to Buch after 2013 had accrued during her employment period. It further said that the bank hasn't paid her anything other than "retiral" benefits occurring out of grant of Esops.
This story is from the September 03, 2024 edition of Business Standard.
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This story is from the September 03, 2024 edition of Business Standard.
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