look news india
SEBI Chairperson: Market regulator SEBI Chairperson Madhabi Puri has come under fire from all three sides, including Butch Hindenburg, Congress, and colleagues. SEBI employees today protested against Madhabi at the SEBI headquarters. They also demanded her resignation due to her bad behavior.
Today, about 200 employees protested in front of the SEBI office in Mumbai. Earlier, a letter was also written to the Finance Ministry regarding the misbehavior with Madhabi. After protesting for a few hours, SEBI employees returned to work in the office.
SEBI refutes employees' claims
SEBI on Wednesday rejected Madhabi's claim of misbehaviour by employees, against which the employees staged a protest today, indicating, “The purpose of the protest is to express dissent and solidarity against the practice by armed top management under the guise of a press conference.”
There was a demand for Madhabi's resignation
SEBI employees have demanded immediate withdrawal of the press release and resignation of Madhabi, accusing her of spreading lies before SEBI. SEBI officials have complained to the Finance Ministry that a toxic work culture is being experienced in the capital market regulator under the leadership of Madhabi Puri Buch. It has been accused of harsh language, harsh promises, setting unrealistic targets and high level of micro-management.
SEBI alleges conspiracy of external elements
On the other hand, SEBI said in a press release that the claims against the SEBI chief are due to the demand for high salary allowances and misrepresentation of the targets achieved and delay in decision making. Some “external elements” instigated his employees that they should not be pressured to adhere to high standards of performance and accountability. However, SEBI has not given any information about these external elements.
Sebi chairperson Madhabi Puri Buch has faced allegations of conflict of interest from US short-seller Hindenburg Research and opposition political parties, with Hindenburg alleging that Buch and her husband had previously invested in offshore funds used by the Adani Group, which is being investigated by the regulator. Buch has denied the allegations. The Congress has also claimed that she took salary and benefits from three companies simultaneously.