Hindenburg-SEBI chief row: Madhabi Buch's answers raise more questions, says Congress

Congress questions SEBI chairperson's financial dealings, raising concerns about conflicts of interest, prompting government response.

The Congress on Tuesday (September 17,2024) said the "answers" being provided by SEBI chairperson Madhabi Buch and her husband raise even more questions and asserted that "the facts" that have been put out on their financial dealings have not been contradicted so far by anyone.

Hindenburg Research vs SEBI’s Madhabi Buch: How the row unfolded

Congress general secretary in-charge communications Jairam Ramesh also asked whether Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi were aware of these "facts" since 2022 at least and do they really think that these "facts are trivial" and do not, in any way, compromise the functioning of the capital markets regulator.

His remarks come a day after Ms. Sitharaman said Ms. Madhabi Buch and her husband Dhaval Buch are defending themselves and putting out facts contradicting the allegations of Congress.

In a post in X, Mr. Ramesh said, "The finance minister has finally broken the Union government's silence on the issue of the multiple conflicts of interest of the SEBI chairperson.

"She has said that the SEBI chairperson and Mr. Buch are 'answering on allegations of conflict of interest'. But these answers raise even more questions," Ramesh said.

The facts that have been put out on the financial dealings of the SEBI chairperson and her husband have not been contradicted so far by anyone, the Congress leader said.