Mahua Moitra.
Trinamool Congress MP Mahua Moitra is seen in action again. Mahua Moitra filed a complaint against Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch on Thursday. In a complaint filed with the Ombudsman, it has accused the SEBI chairman of “improper conduct” and a “system of revenge”. Mahua Moitra filed the complaint and said that my Lokpal complaint against Madhabi Puri-Buch has been filed in electronic and physical form.
Mahua Moitra said that the ombudsman will have to investigate within 30 days. Then Lokpal has to send it to ED and CBI for preliminary investigation and full FIR investigation. Mahua said in a post on X that every entity involved needs to be called and every link investigated.
Also read this
The complaint highlighted Buch’s alleged misconduct during his tenure as a whole-time member of Sebi from April 2017 to October 2021 and then as chairman until March 2022.
Mahua Moitra wrote a letter to the Lokpal
He wrote that Madhbi Puri Buch was appointed as a whole-time member of the Securities and Exchange Commission of India (SEBI) from April 2017 to October 2021 and thereafter as the Chairman of SEBI in March 2022.
However, based on subsequent revelations, it appears that Butch is a serial offender who has engaged in acts of impropriety on the part of a public servant and has also engaged in quid pro quo arrangements that are potentially dangerous to India’s national interest.
My ombudsman complaint against Smt. Puri-Buch is filed electronically and physically. Lokpal should refer it to CBI/ED for preliminary investigation and then complete FIR investigation within 30 days. Each unit involved needs to be summoned and each link examined. pic.twitter.com/5aZ4f2se9n
— Mahua Moitra (@mahuamoitra) September 13, 2024
Moitra’s complaint also raised concerns about Buch receiving regular income from ICICI Bank and ICICI Prudential while serving at SEBI. Moitra has sought a probe into violations under the Prevention of Corruption Act, 1988.
The Sebi chief denied the allegation
They wrote that on September 5, 2024, other documentary evidence revealed that Buch, during his tenure at ICICI Bank between 2011 and 2013, was also employed by a private equity fund, Greater Pacific Capital.
In August, Hindenburg Research, a US short-seller, alleged that Butch and her husband invested in Adani Group shares in offshore vehicles, as did Gautam Adani’s elder brother Vinod Adani. All Hindenburg’s allegations have been consistently denied by the Adani Group.
The report alleged that Sebi had drawn a “blank conclusion” in its probe against Adani due to alleged investments by Butch and her husband in offshore funds. Meanwhile, Madhabi Puri Buch and her husband Dhaval Buch have denied the allegations leveled against them by Hindenburg Research.
