look news india
New Delhi: After the Adani Group, now the Congress has opened a front against SEBI chief Madhavipuri Buch and has accused him of 'conflict of interest'. Now the opposition Congress on Tuesday launched a fresh attack on Madhabi Buch and raised the question that what kind of job is she doing, where she is getting more pension than salary. Along with this, the Congress has challenged Prime Minister Modi to give clarification about his appointment in the Madhabich controversy.
Congress spokesperson Pawan Khera on Monday alleged that SEBI chief Madhav Puri Buch is drawing salary from three places at the same time. He said that Madhav Puri was getting financial benefits from ICICI Bank even after retirement, which is a conflict of interest. ICICI denied the allegations and revealed that no salary or ESOP was paid to Madhavi Puri Buch after retirement in 2013. However, now the Congress has again raised questions on ICICI Bank on Tuesday. Congress spokesperson Pawan Khera said that ICICI Bank has tried to give clarification in its statement, but in fact it has provided more information and confirmed the allegations of his party. The bank has claimed that the amount paid to Buch was earned during his employment in the bank and it is his 'service retirement benefit'. In reference to this answer, Khera raised the question that if the amount given to Madhavi Puri Buch was his 'service retirement benefit', then why was there no uniformity in its frequency and amount?
Questioned that in 2014-15, Rs. 5.03 crore was paid as per the agreement between Madhab Puri Buch and ICICI Bank and Buch was not given any financial benefit from the bank in 2015-16, then why was the pension restarted in 2016-17, which continued till 2021? Apart from this, Madhab Puri Buch was doing such a job in which he was getting more pension than salary.
Kheda questioned that from 2007-08 to 2013-14, when Madhabipuri Buch was in ICICI Bank, his average annual salary was Rs. 1.30 crore but the average pension of Madhabi Buch was Rs. 2.77 crore. How can a person as an employee get more retirement benefits than salary? Kheda said that he hopes Madhabipuri Buch will answer why the so-called pension was restarted in 2016-17. He said that in 2016-17 Madhabipuri Buch's Rs. 2.77 crore pension was restarted when he became a full-time member of SEBI.
Khera said the bank has disclosed that employees, including retirees, had the option to exercise their ESOPs at any time for up to 10 years. However, the only ESOP policy that the bank has publicly disclosed on its website is the one uploaded on the US Securities Exchange Commission website and it clearly states that a former employee can exercise his ESOPs within a maximum of three months after his retirement from service.
Where is this 'revised policy' under which Madhabi Puri Buch was able to avail ESOP eight years after voluntary termination of her services? the Congress leader asked.