Godrej Exec Defends Embattled SEBI Chair’s Family Amid Allegations

Sudhir Sitapati, MD & CEO of Godrej Consumer Products, defended Dhaval Buch against conflict of interest allegations related to consultancy services amidst accusations involving his wife, SEBI Chairperson Madhabi Puri Buch. Sitapati highlighted the importance of private sector experience in government roles, warning against old biases and misunderstanding contexts.

Sudhir Sitapati, Managing Director and CEO of Godrej Consumer Products, has come out in support of Dhaval Buch, amid allegations of conflict of interest against him and his wife, SEBI Chairperson Madhabi Puri Buch. Sitapati emphasized that Buch's consultancy work post-retirement is a common practice in the private sector and should not be viewed with suspicion.

He argued that unless the context of such professionals transitioning from corporate sectors is comprehended, it could deter experienced private sector individuals from accepting government positions. Given India's current phase of development, he cited the potential benefits of leveraging private sector talents in government roles.

Sitapati also pointed out the stark differences in operational procedures and compensation between the private and public sectors, suggesting that these discrepancies could lead to misunderstandings and unwarranted accusations. Both Buch and SEBI Chair Madhabi Puri Buch, meanwhile, have categorically denied any impropriety, rejecting all allegations as baseless and driven by malice.

(With inputs from agencies.)