Congress Criticizes SEBI Over Transparency Issues with Chairperson's Conflict of Interest Cases

The Congress criticized SEBI's refusal to disclose instances when its chairperson Madhabi Buch recused herself due to conflict of interest, calling it a mockery of public accountability. SEBI cited privacy and safety concerns in its RTI response. Allegations against Buch and her husband were dismissed by them.

In a strong rebuke, the Congress has slammed the Securities and Exchange Board of India (SEBI) for its refusal to disclose instances where its chairperson, Madhabi Buch, recused herself due to conflicts of interest. The party claims this refusal undermines public accountability and transparency.

The securities regulator's decision came in response to a Right to Information (RTI) query filed by transparency activist Commodore Lokesh Batra (retd). According to SEBI, collating the requested information would disproportionately divert its resources, and the data contains personal information that could endanger personal safety if disclosed.

Congress general secretary Jairam Ramesh highlighted the issue, arguing that SEBI's actions only add fuel to the fire of ongoing allegations. Despite these claims, SEBI maintains that Buch has made relevant disclosures as required. The matter has drawn additional scrutiny due to alleged ties between Buch and offshore funds linked to the Adani group, a claim both Buch and her husband have vehemently denied.

(With inputs from agencies.)