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SEBI Chief Madhavi Buch News: The central government has rejected all the allegations leveled against SEBI chief Madhabi Puri Buch by American short-seller Hindenburg Research and the opposition and has given her a clean chit, sources said. Along with this, sources said that Madhabi Puri Buch will complete the remaining four months of her tenure as SEBI Chairman. Madhabi Puri Buch's tenure as SEBI chairperson will end in February 2025.
The main opposition Congress and US short-seller Hindenburg Research had leveled allegations of financial irregularities and conflict of interest against the SEBI chairman. After this investigation was started against him. The Congress accused her husband Madhabi Puri Buch of colluding with the BJP in corruption. Along with this he also claimed that Madhabi Buch misused her position as SEBI Chairman. However, no evidence was presented in this regard.
SEBI Chairman Madhabi Puri Buch promoted REITs and Blackstone benefited from it. Her husband also benefited in turn because Congress alleged he had ties to Blackstone.
According to sources, the idea of REIT first came up in the year 2007 during the UPA government. However, after a few years in the year 2016, SEBI issued guidelines in this regard. Madhabi Puri Buch took over as SEBI Chairman on March 1, 2022, after the retirement of Ajay Tyagi. He is credited with bringing about sweeping changes in the functioning of SEBI and these changes impacted not only Blackstone but many global companies operating in India. Government sources said that only politics is being done in the name of Madhabi Puri Buch.
Another allegation leveled against SEBI chief Buch was that he did not disclose the money he received during his previous tenure at his previous company ICICI. The government did not find any illegal transactions during its investigation into the allegations.
ICICI Bank also clarified that he did not receive any salary or ESOP after his retirement in October 2013, sources said. He was given only retirement benefits, which are given to all others in this position.