Continuing with his “non-biological” rhetoric, Jairam Ramesh said, “The question really needs to be asked of the non-biological Prime Minister, not of anyone else.As far as the regulator of the capital markets is concerned, how much more evidence is needed to show the collapse of transparency and ethics?
Questioning PM Modi’s inaction over the issue as he was a part of the committee that appointed Buch as the Sebi chief, Ramesh added, “According to NSE data, there are now 10 crore Indians with unique PANs who have invested in some form or the other in this market. Don’t they deserve better? Why don’t they do something? What are they afraid of?.”
Congress leader Pawan Khera in a press conference alleged that Buch, while being a whole time member of Sebi, rented out a property of hers to company whose complaints were being dealt by the financial body on a regular basis.
“Madhabi Puri Buch ji had become the whole time member of Sebi in 2018. Now after becoming a whole time member, she rented out one of his properties. In the financial year 2018-19, she received a rent of Rs 7 lakh on it,” Khera said.
“She received rent of Rs 36 lakh for the same property in 2019-20, which increased to Rs 46 lakh this year. The name of the company to which Madhabi Puri Buch gave her property is Carol Info Services Limited, which is a part of Wockhardt company,” he continued.
“Wockhardt is the same company whose complaints are being continuously dealt with by Sebi,” he added, calling it “completely a case of corruption.”
This comes after allegations of Buch receiving regular income from ICICI Bank and ICICI Prudential while serving as a whole-time member and later as the chairperson of Sebi.