look news india
New Delhi, September 02 (HS). The country's private sector ICICI Bank has responded to the allegations leveled by the main opposition party Congress against Securities and Exchange Board of India (SEBI) chief Madhavi Puri Buch.
ICICI Bank on Monday said it has not paid any salary or ESOP to Madhavi Puri Buch since her retirement in October 2013, in response to allegations levelled against the SEBI chief. The bank said in its statement that all payments made to Buch after her retirement were earned by her while working in the ICICI Group. These payments also include ESOPs and retirement benefits.
The bank said that under our rules, ESOPs vest over a period of years from the date of allotment. Under the rules in force at the time when ESOPs were allotted to Buch, bank employees, including retired employees, had the option to exercise their ESOPs anytime within a period of 10 years from the date of authorisation.
It is noteworthy that earlier the Congress had alleged that Madhavi Puri Buch, who became a member of the market regulator SEBI in the year 2017, had received Rs 16.8 crore from ICICI Bank as salary and other remuneration. Earlier, Congress General Secretary and Media Incharge Jairam Ramesh had raised serious questions on the SEBI chief in the matter of regulatory investigation being conducted on the violation of SEBI rules by the Adani Group.