Congress leader Pawan Khera on Tuesday made a fresh accusation against the NDA government of protecting SEBI Chairperson Madhabi Puri Buch over alleged financial misconduct.
Speaking to the media in New Delhi, Khera said, “We have fresh information MSU, SEBI chief Madhabi Puri Buch. Rahul Gandhi has posed questions through his videos, asking what makes the government shield her. What might make her powerful enough to have leverage on the government? I think that democratically elected administration couldn’t go out and defend a man when the evidence is all clear against that individual.”
Khera accused Buch has a pecuniary interest in numerous things, saying that she owns stakes in unreported companies and was an initial investor in Predible Health, which, according to the report by Khera, was a recipient of central government money. Despite the 2017 tax leak, Khera said that Buch continued to own the equity in the company up to 2021 to fund sell her shares to a US firm with more than 226 times the multiplication of her put money into the business. He also disclosed that Buch had leased a flat in Mumbai to Green World Buildcon and Infra Private Limited, which is owned by Mukul Bansal and Vipul Bansal of the Indiabulls Group of Companies.
The Congress party had earlier accused SEBI of not conducting an investigation on some allegations against the Adani Group after a report issued by the U.S-based Hindenburg Research. The report accused Buch and her husband, Dhaval Buch, of being involved in the frauds linked to Adani.
For this reason, SEBI has not taken any appropriate action against Adani offshore shareholders, and as pointed out in the Hindenburg report, their actions may be due to a conflict of interest. Regarding the reluctance of SEBI to investigate the network of offshore entities associated with the Adani Group, Khera said, ‘We believe that the Chairperson’s complicity’ is at the root of it.
Subsequently, SEBI clarified that the allegations were baseless as the organization had examined the issues raised by the Adani Group. Madhabi and Dhaval Buch also rejected the allegations.
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