Madhabi Puri Buch Not Guilty In Corruption Charges, Says Centre

According to media reports that cited senior government sources, the centre handed Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (Sebi), a clean sheet.

The government stated that no action will be taken against Buch and that she was not expected to resign from her position after finding nothing against her during the probe.

This occurred just a few days before the Public Accounts Committee evaluated the leading regulatory bodies, which is scheduled for 24 October. For the meeting, the leaders of the Telecom Regulatory Authority of India and Sebi have been called.

She was the target of multiple significant accusations of financial malfeasance and conflict of interest, which prompted the investigation.

The Indian National Congress, an opposition party, claimed that Buch's advocacy of Real Estate Investment Trusts (REITs) benefited Blackstone, a multinational investment company that her husband Dhaval Buch is connected to.

Additionally, it accused her of favouring Blackstone by abusing her role as Sebi chairperson.

Earlier, several Sebi officers staged a protest against Buch, accusing him of fostering a poisonous workplace. Hindenburg Research, a short seller, also made accusations against her.