Kumar Bahukhandi
Madhavi Puri Vs Congress: Congress made new allegations against Securities and Exchange Board of India (SEBI) Chairperson Madhavi Puri Buch. Congress said that Madhavi’s husband Dhawal Buch had received Rs 4.78 crore from automobile company Mahindra & Mahindra (M&M) between 2019 and 2021.
Congress leader Pawan Khera said that SEBI had issued four orders in cases related to (M&M) during this period. This happened when Dhawal’s wife Madhavi was a member of SEBI.
Congress leader Pawan Khera said that from 2016-17, 2019-2020 and 2023-2024, Madhavi Puri earned 2.95 crores through Agora. This money was earned from 6 companies – Mahindra & Mahindra, Dr. Reddy’s, Pidilite, ICICI, Sambcorp and Visuligi & Finance. All these companies are listed and regulated by SEBI and are also clients of Agora.
However, Mahindra & Mahindra called these allegations false. The company said – Dhawal was appointed for his expertise. We never asked for any kind of facility from SEBI.
Jairam Ramesh asked 3 questions to PM Modi (Madhavi Puri Vs Congress)
Does the Prime Minister know that Madhabi P Buch owns a 99% stake in Ag
Does the Prime Minister know that Madhabi P Buch owns a 99% stake in Agora Advisory Private Limited and is charging heavy fees from listed companies including Mahindra & Mahindra?
Does the Prime Minister know about Madhabi Buch’s connection with this controversial organisation?
Does the Prime Minister know that Madhabi’s husband is earning a lot from Mahindra & Mahindra Limited after retirement?
What did Mahindra & Mahindra say in response to this?
Mahindra & Mahindra said- The company appointed Dhawal Buch in 2019. He was selected for his experience related to supply chain and sourcing. He spent most of his time at Bristlecone.
At present, Dhawal Buch is on its board. He joined Mahindra Group about 3 years before Madhavi Puri Buch became SEBI chief. The money given to him was for his experience and management.
Know what is the controversy related to SEBI and Hindenburg Report
SEBI i.e. Securities and Exchange Board of India is an institution of the Government of India. It was established in the year 1992 to protect the investors of the stock market.
In January 2023, Hindenburg accused Gautam Adani of using offshore funds to increase the prices of his group’s shares. Adani denied the allegations, but the matter reached the Supreme Court. SEBI was entrusted with the responsibility of investigating the matter.
