Madhubi Puri Buch: SEBI Chairperson Madhabi Puri Buch said on Sunday that we had sent show cause notices to Hindenburg several times. But, they did not respond to them. In return, they have raised questions on the credibility of a prestigious institution like SEBI. It is very sad that instead of responding to these notices, Hindenburg has chosen to attack the credibility of SEBI and defame it. Hindenburg Research has also made a personal attack on the SEBI Chairperson. Hindenburg released a report late Saturday night citing the so-called document and made several allegations against SEBI Chief Madhabi Puri Buch and her husband Dhaval Buch.
We always gave information about our salary, bonus and stocks
Madhabi Puri Buch and Dhawal Buch have given a detailed reply to Hindenburg’s allegations on Sunday, August 11. In this, they said that Madhabi Puri Buch, the first woman chairperson of SEBI, has studied from IIM Ahmedabad. She has more than two decades of experience in the banking and financial sector. Whereas, Dhawal Buch has been an alumnus of IIT Delhi. His career spans 35 years. We have always given information about our salary, bonus and stock.
The investment was made 2 years before joining SEBI
From 2010 to 2019, Dhawal Buch worked for Unilever and lived in London and Singapore. From 2011 to March 2017, Madhabi Puri Buch worked for a private equity firm in Singapore. The investment mentioned in the Hindenburg report was made in 2015. During that time, Madhabi Puri Buch and Dhawal Buch lived in Singapore. This investment was made 2 years before joining SEBI. Also, the investment in this fund was made on the advice of Dhawal Buch’s childhood friend Anil Ahuja. When Ahuja left his post in 2018, we also withdrew our investment.
Dhawal Buch was appointed in Blackstone before becoming SEBI chief
He further said that Dhawal Buch was appointed in Blackstone in the year 2019. At that time Madhabi Puri Buch was not the chairperson of SEBI. SEBI has issued more than 300 circulars in the last 2 years. These have been approved by the SEBI board after taking public opinion. Two companies formed by Madhabi Puri Buch were deactivated after her appointment as SEBI chief. SEBI is aware of this. He said that apart from Singapore, we have also given complete information about our companies to the Indian tax authorities.
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