A complaint about alleged financial irregularities and misconduct against Madhabi Puri Buch, the head of the Securities and Exchange Board of India (SEBI), has been filed with the Lokpal by Mahua Moitra, a member of parliament for the Lok Sabha.
The SEBI chief is accused by the Trinamool Congress member of acting improperly and making quid pro quo agreements.
'I have submitted my LokPal complaint in hard copy and electronically against Ms. Puri-Buch. Within 30 days, LokPal must report it to the CBI/ED for an initial probe, followed by a thorough FIR inquiry. Moitra wrote on her 'X' handle, 'Every single entity involved needs to be summoned & every link investigated.'
Reiterating it to be an issue of national concern, Moitra asked the Lokpal to look into potential infractions of the Prevention of Corruption Act.
The US-based Hindenburg Research claimed that the SEBI's head and her husband had investments in offshore funds linked to the Adani group of companies while the agency was investigating complaints against the Adani group of companies. This led to the filing of the complaint.
The head of SEBI is charged with misconduct and having a conflict of interest because she declined to step down from handling complaints about the Adani group.
The report claimed that because Buch and her husband were allegedly involved in the offshore funds, Sebi's investigation into Adani "drew a blank." In the meantime, Hindenburg Research has denied the accusations made against Madhabi Puri Buch and her husband, Dhaval Buch.
Adani hindenburg controversy
When Hindenburg Research claimed that Buch and her husband had investments in offshore companies connected to the Adani Group last month, the controversy grew more intense.
The couple vehemently refuted these accusations in a joint statement, labelling them as 'baseless' and 'devoid of any truth.' They declared that they have given all pertinent authorities access to their financial records.
