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The Securities and Exchange Board of India (SEBI) has denied allegations of toxic work culture. SEBI issued a statement on Wednesday rejecting the allegations.
In a statement issued by the market regulator, it was said that some employees are trying to get the organization to agree to something by spreading the story of negative work environment. They have many demands, one of them is a 55% increase in House Rent Allowance (HRA).
Employees demanded a change in leadership
Recently, SEBI employees wrote a letter to the Finance Ministry expressing concern over the toxic work culture. The employees accused the leadership i.e. SEBI Chief Madhavi Puri Buch of using harsh language, setting unrealistic goals and micromanagement and demanded a change in leadership.
ZEE founder had accused SEBI chief of being corrupt
Yesterday (Tuesday, September 3), ZEE founder Subhash Chandra accused SEBI chairperson Madhabi Puri Buch of bias, corruption and unethical behaviour.
He said, ‘I believe SEBI Chairperson is corrupt because before taking up the position in SEBI, the combined income of Buch and her husband was around Rs 1 crore per year which has now increased to Rs 40-50 crore per year.
Congress accused SEBI of taking salary from three places
Earlier on Monday, the Congress party had also accused SEBI of taking salary from three places including ICICI Bank while being associated with SEBI.
Congress spokesperson Pawan Khera said, ‘Madhabi Puri Buch was a full-time member of SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri Buch became the chairperson of SEBI. PM Modi and Amit Shah are included in the cabinet that appoints the chairperson of SEBI.’
On the other hand, ICICI denied the allegations and said, ‘After retiring from the bank, Madhavi was not given any salary or employee stock option. She only took retirement benefits.’
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SEBI chief accused of taking benefits from 3 places: Congress said- took ₹16.80 crore salary from ICICI; Bank said- took only retirement benefits
Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch is on the target of Congress. Congress spokesperson Pawan Khera held a press conference on Monday and accused Madhavi of taking salary from 3 places including ICICI Bank while being associated with SEBI.
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Hindenburg’s new report, allegations against SEBI Chief: Madhabi Puri Buch had stake in offshore entities linked to Adani Group
Hindenburg Research, a firm known for its reports on the Adani Group, has leveled allegations against Madhabi Puri Buch, the chief of the Securities Exchange Board of India (Sebi). US short-selling firm Hindenburg has claimed in its new report that the SEBI chief had stakes in shadowy offshore entities used in the money laundering scandal through the Adani Group. b
Buch said – investment was made before joining SEBI: Hindenburg is doing character assassination instead of answering the show cause notice. On the allegations of Hindenburg, SEBI Chairperson has said that she had taken the fund mentioned in the allegations in 2015. At that time she had no connection with SEBI. On the allegations of Hindenburg, Madhabi Puri Buch and her husband Dhaval Buch issued a statement on Sunday (August 11) denying the allegations. Buch said that she had made this investment about 2 years before joining SEBI.
Hindenburg said- SEBI chief accepted the allegations in clarification: It is clear that his investment in foreign funds, Adani’s brother increased the price of shares with this
US short seller Hindenburg said SEBI Chairperson Madhabi Buch has admitted several things in her response to our report, which has raised many new questions.
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