Madhabi puri Buch: SEBI chief's new trouble...
Market regulator SEBI's chairperson Madhabi puri Buch now seems to be embroiled in a new controversy. The main opposition party Congress has brought a new case against her. Congress's new allegation is that the regulator's chief was earning from the company against which the regulator was investigating.
Congress alleges rental income
According to the Congress, SEBI Chairperson Madhabi puri Buch received about Rs 2.17 crore from a company named Carol Info services Limited during FY 2018-19 to FY 2023-24. She received this money as rent. Carol Info services has stated in its 2022-23 annual report that it is a subsidiary of Khorakiwala Holdings and Investments Private Limited and Wockhardt Hospitals Limited is an associate company.
SEBI investigated Wockhardt last year
Wockhardt's name becomes notable because SEBI was investigating him last year for insider trading. Habil Khorakiwala, the founder and chairman of the pharmaceutical company Wockhardt, is named as a director of Khorakiwala Holdings and Investments Private Limited, according to a Mint report quoting Toffler.
The case of Wockhardt is older than ten years.
There is no direct connection found in the probe of the pharmaceutical company Wockhardt to Madhabi puri Buch, the current chairwoman of SEBI. The disclosure from 2013 is connected to Wockhardt's insider trading case. Single Adjudicating Officer Vijayant Kumar Verma heard this case before SEBI issued its ruling in march 2023.
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