SEBI Chief Madhabi Puri Buch Denies Conflict of Interest Allegations

Madhabi Puri Buch, the head of India's market regulator SEBI, stated she has adhered to all disclosure guidelines amid allegations of conflicts of interest from Hindenburg Research and opposition parties. She emphasized her proactive recusal list and denied involvement in regulatory matters related to her former employer ICICI Bank.

India's market regulator head, Madhabi Puri Buch, firmly denied allegations of conflicts of interest on Friday. She asserted that she has fully complied with all disclosure guidelines set by the Securities and Exchange Board of India (SEBI).

Buch's proactive management included maintaining a recusal list that exceeds SEBI's requirements, she explained. The allegations, levied chiefly by Hindenburg Research and India's opposition parties, claim Buch faced conflicts involving the Adani Group and ICICI Bank.

Buch and her husband Dhaval Buch labeled the accusations as 'false, incorrect, malicious, and motivated,' adding that she has not handled any regulatory cases related to ICICI. Furthermore, she recused herself from investigations involving Mahindra Group and Dr. Reddy's due to consultancy fees paid to her husband.