The Congress launched salvo at Sebi chariperson Madhabi Puri Buch on Monday (September 2, 2024), alleging that in violation of the regulatory board guidelines, she took wage and ESOP from ICICI Financial institution whereas being a full-time Sebi member.
Coaching weapons at Prime Minister Narendra Modi, Congress spokesperson Pavan Khera, in a press briefing on Monday, mentioned that whether or not he was conscious of the Sebi chief’s Workplace of Revenue case.Khera requested the PM to explain the method of choosing the regulatory head.
The Congress spokesperson mentioned whether or not the PM obtained details about Buch’s workplace of revenue case earlier than the ACC chosen her as Sebi chairperson.
“The query to the PM is whether or not he was conscious of the Sebi Chief’s Workplace of Revenue case?,” he mentioned, concentrating on the PM.
“And if not, are you operating the federal government?” Khera additional mentioned.
“There’s a coverage of ESoPs, even after leaving the corporate, the Sebi chief stored getting advantages? Was the PM conscious of this?
“The query to the PM is that regardless of so many allegations, data, and the Hindenburg report in opposition to the Sebi chief, who’s defending him?” mentioned Khera.
The Congress spokesperson alleged that the SEBI chairperson took a wage of Rs 16 crore and 80 lakh from ICICI Financial institution from 2017 to 2024.
He mentioned that Buch took wage and ESoPs from ICICI Financial institution and ICICI Prudential.
“It is a violation of Part 54 of SEBI and a case of workplace of revenue,” he mentioned.
“Whereas being a whole-time member, she acquired steady cash from ICICI Financial institution and ICICI Prudential. In 2021-22, wage from ICICI Financial institution stopped, however she obtained ESoP. She obtained wage, ESOP, and TDS from ICICI Prudential too,” added Khera.
“Has ICICI Financial institution made any deliberation anyplace to offer such ESOPs?” Khera questioned the non-public lender.
The Congress spokespersons questioned the financial institution, saying why was it giving cash to Buch and what was it taking in return.
“The Congress’ query to Sebi Chairman, are there some other firms from which you’re taking cash or advantages or had been…”
Asking a query from Buch, Kehra mentioned that was she and her members of the family related to such firms which are beneath the purview of Sebi’s investigation?
When Congress was requested concerning the supply of knowledge, it mentioned that it could’t be confirmed unsuitable.