SEBI's Madhabi Buch Under Fire From Congress, Mahindra Rejects Accusations

Rahul Gandhi is currently on a 3-day trip to the United States, where he continues to criticize the Narendra Modi government. Meanwhile, in India, the Congress party has raised serious allegations against Madhabi Puri Buch, the chairperson of SEBI (Securities and Exchange Board of India). Congress accused Buch of running her consultancy firm, Agora Advisory, even after joining SEBI in 2017 and receiving Rs 2.95 crore from various companies, including Mahindra & Mahindra and Dr. Reddy's. The Congress claims Buch’s husband, Dhaval Buch, also received Rs 4.78 crore from Mahindra & Mahindra during this period, raising concerns about potential conflicts of interest, especially given SEBI settling five cases involving the company. Mahindra Group has called these allegations false, defending Dhaval Buch's expertise in supply chain management. This marks the third Congress attack on Buch in nine days, following accusations related to income from ICICI Group and rental income from Wockhardt. These controversies come alongside previous allegations from Hindenburg Research and SEBI employees about conflicts of interest and workplace culture.