Madhabi Puri Buch Update: ICICI Bank has issued a clarification on the allegations of stock market regulator SEBI chief Madhabi Puri Buch taking salary from ICICI Bank despite her retirement. The bank denied these allegations and said in a regulatory filing, no salary or ESOPs have been given to the SEBI chairperson.
In a regulatory filing on the stock exchange, ICICI Bank said, media reports alleging salary payment to SEBI Chairperson Madhabi Puri Buch have come to our notice. In this matter, we want to clarify that ICICI Bank or its group companies have neither paid any salary nor issued any ESOPs after the retirement of Madhabi Puri Buch. According to ICICI Bank, Madhabi Puri Buch had opted for her retirement from October 31, 2013. ICICI Bank said, all payments made to Madhabi Puri Buch after retirement have been made during her service in ICICI Group, which also includes ESOPs and retirement benefits.
ICICI Bank said that, as per the rules laid down while working in the group, they have been given salary, retirement benefits, bonus and e-SOPs. As per the bank’s e-SOP rules, there is an option to use e-SOP in the next few years from the date of allotment. As per the rules laid down while issuing e-SOPs to them, the employee or retired employee had the option to use e-SOPs within 10 years from the date of vesting.
Congress had held a press conference on Monday 2 September 2024 and alleged that Madhabi Puri Buch continued to receive salary from ICICI Bank even after becoming a full-time member of SEBI, which is against the rules. Congress said in its allegations that after becoming a member of SEBI in 2017, Madhabi Puri Buch continued to receive salary from both SEBI and the bank. Congress also attacked the central government for making Madhabi Puri Buch the SEBI chief.
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