Investing money in Chinese company… Why did Congress accuse SEBI chief of this? Know everything

New Delhi : The Congress on Saturday leveled fresh allegations of conflict of interest against SEBI chief Madhabi Puri-Buch. Along with this, she was accused of ‘investing’ outside India, including in Chinese companies, amid growing geopolitical tensions with the neighboring country. The Congress also accused Buch of trading in listed securities while being in possession of unpublished sensitive information. Madhabi Buch and her husband Dhaval issued a statement on Friday calling all the allegations ‘completely false, malicious and defamatory’.

Does PM Modi know about investment?

Asking questions to Prime Minister Narendra Modi again, senior Congress leader Pawan Khera said, “Does the Prime Minister know that Madhavi Puri Buch has made high value investments outside India? If yes, what is the date of investment and date of disclosure?” he/she said, “Does the Prime Minister know that the SEBI chairman is investing in Chinese firms at a time when India is facing geopolitical tensions with China?”

There was clarification on the stake in Agora Advisory

Earlier on Friday, Buch’s statement also denied allegations that he/she had a 99% stake in Agora Advisory Pvt. The firm provides consulting services to Mahindra & Mahindra, Dr Reddy’s and Pidilite among others. It said Dhawal received income of Rs 4.78 crore from the M&M group while the Sebi chief was mediating the group’s affairs. Madhabi and Dhawal’s statement said that after joining Sebi, Madhabi never dealt with any files related to Agora Advisory, Agora Partners, Mahindra Group, TimesofIndia Pidilite, Dr Reddy’s, Alvarez & Marsal, Sembcorp, Visu Leasing or ICICI Bank.
However, this reaction came after Hindenburg Research on Wednesday highlighted that the Sebi chief had remained “completely silent” for several weeks even as several entities filed fresh charges.