look news india
New Delhi: The Congress has alleged that Securities Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch held 99 per cent stake in Agora Advisory Pvt Ltd when the company was providing consultancy services to the Mahindra & Mahindra group.
The main opposition party also claimed that during Madhavi's tenure as whole-time member of SEBI, her husband Dhaval Buch received Rs 4.78 crore from Mahindra & Mahindra between 2019-21.
Earlier, addressing a press conference at the AICC headquarters, Congress media and publicity department chief Pawan Khera said Madhavi received a total of Rs 2.95 crore through Agora Advisory Private Limited during her tenure as full member and chairman of SEBI. Out of which Rs 2.59 crore came from just one group Mahindra & Mahindra. Congress general secretary Jairam Ramesh has questioned whether Prime Minister Modi was aware of Madhavi's 99 percent stake in Agora Advisory Private Limited and the huge fees charged from listed companies including Mahindra & Mahindra.
On the other hand, Mahindra & Mahindra Group has rejected these allegations of Congress and called them false and misleading. The group has clarified that it has never requested any special service from SEBI.
Congress President Mallikarjun Kharge has alleged that Prime Minister Narendra Modi has destroyed the institutional integrity of Sebi as a strong market regulator to save his close friends.
He said that SEBI is investigating the Modi-Adani mega scam. There are many issues of conflict of interest before the SEBI chairman. The Congress party has now exposed many such examples.
A committee headed by Modi Shah appointed the SEBI chairman. Did she deliberately appoint her friends to benefit them? Was she unaware of suspicious financial transactions? Is SEBI's order on regulated companies now dependent on consultancy fees received by its chairman through a suspicious company? Is this na khaunga, na khane doona?
He further said that because of this big scam hatched by Modi Ji, the hard earned money of 10 crore stock market investors is at risk.