Congress demands independent probe into allegations against SEBI chief Madhabi Buch
The Hindu
Opposition party demands independent inquiry into SEBI chairperson's conflict of interest allegations for market integrity.
Amid the row over allegations against SEBI chairperson Madhabi Buch, the Congress on Thursday (September 5, 2024) demanded an independent inquiry into the matter, asserting that it is in the national interest to have a probe as foreign investors were getting concerned and there were doubts about the integrity of India's stock markets.
The Opposition party said only an objective, independent inquiry with the SEBI Chairperson Ms. Buch stepping aside was needed until then can restore trust and confidence in India’s stock markets and hence the economy.
Chairman of Professionals' Congress and Data Analytics Praveen Chakravarty claimed that lots of skeletons are tumbling out of the cupboard of SEBI, which is one of the nation’s most important institutions.
Also Read: On SEBI chairperson’s conflicts of interests
"On 10 August, a foreign research firm issued a report with allegations against the SEBI chairperson and her family regarding offshore funds, for which they claimed to have documentary evidence. This allegation was made by a research firm, not by any political party. In response, a cabinet minister of the Modi government addressed the issue," he said at a press conference at the AICC headquarters.
Why did they respond to the allegation made by a foreign research firm against an individual at SEBI, Chakravarty asked.
"SEBI Chairperson Madhabi Puri Buch is not responding, but ICICI is. Why?" he said.
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