SEBI's RTI Response Raises Questions on Transparency

SEBI has denied providing details on Chairperson Madhabi Puri Buch’s recusals due to potential conflicts of interest, citing resource constraints. SEBI also refused to disclose Buch’s financial declarations, labeling them personal information. Allegations involve Buch's connection to the Adani group and possible conflicts of interest.

In a recent RTI response, SEBI has declined to provide information on Chairperson Madhabi Puri Buch's recusals stemming from potential conflicts of interest, citing the need to disproportionately divert resources. The market regulator also refused to release Buch's financial declarations, citing them as personal information that could endanger her safety.

The SEBI's decision was communicated to transparency activist Commodore Lokesh Batra (retd), who sought details about Buch's financial assets. SEBI stood firm, saying that such details are exempt under Sections 8(1)(g) and 8(1)(j) of the RTI Act, which protect personal information and safety.

The refusal comes amid allegations from Hindenburg Research that Buch might have conflicts of interest involving the Adani group. SEBI, however, asserts that investigations into these allegations are nearly complete, with 25 out of 26 inquiries concluded.

(With inputs from agencies.)