Sebi Chairperson Madhabi Puri Buch Cleared in Investigation, Sources Say

Government sources have reported that the investigation into Sebi Chairperson Madhabi Puri Buch has concluded without any findings against her or her family, with no actions anticipated.

Sources indicate that Buch is not expected to resign. The scrutiny arose due to allegations of conflict of interest and financial misconduct, particularly following claims from the Congress party about her connections to companies regulated by Sebi through her consulting firm, Agora Advisory Pvt Ltd. Allegations suggested she received significant payments from these firms, raising concerns over her impartiality.

The controversy was further fueled by Hindenburg Research, a US firm known for its critical reports on corporate governance, which questioned Buch’s silence on the matter and suggested undisclosed financial ties to the Adani Group. This prompted the Parliamentary Public Accounts Committee (PAC) to initiate an investigation.

However, recent findings have cleared Buch of any wrongdoing. Government sources have confirmed that no actions will be taken against her or her family, and her resignation is not expected. This situation highlights ongoing concerns about governance and accountability within Sebi amid heightened public and political scrutiny.