SEBI Chairperson Madhabi Buch Faces Allegations: Congress Demands Independent Inquiry

The Congress has demanded an independent inquiry into allegations against SEBI Chairperson Madhabi Buch. Amidst concerns from foreign investors and doubts over the integrity of India's stock markets, the opposition party stresses the need for an objective probe to restore trust and confidence. The matter involves allegations of offshore funds and toxic work environment at SEBI under Buch's leadership.

Amid a growing controversy around allegations against SEBI Chairperson Madhabi Buch, the Congress party has called for an independent inquiry, citing national interest and concerns from foreign investors. The opposition argues that a probe is imperative to restore trust and confidence in India's stock markets.

Praveen Chakravarty, Chairman of Professionals' Congress and Data Analytics, claimed numerous issues are emerging from within SEBI, a key national institution. He highlighted a foreign research firm's report accusing Buch and her family of having offshore funds, a claim backed by alleged documentary evidence, but not made by any political party. Despite this, a cabinet minister from Modi's government has addressed the issue.

Additionally, over 500 SEBI officers have accused Buch of fostering a 'toxic, abusive and fearful' work environment. These allegations have led the Congress to question the integrity of the market regulator and push for an impartial inquiry to scrutinize Buch's actions and restore investor confidence.

(With inputs from agencies.)