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The Congress on Tuesday intensified its criticism of SEBI Chairperson Madhabi Puri Buch, accusing her of receiving Rs 2.95 crore through her consulting firm, Agora Advisory Private Limited, after becoming a full-time member of SEBI. The Congress claims these payments, mainly from Mahindra and Mahindra, raise questions about a conflict of interest.
Congress spokesperson Pawan Khera alleged that despite Buch's claim that Agora became dormant after she joined SEBI, the firm continued to generate revenue between 2016 and 2024, with 88% of the earnings coming from Mahindra Group.
"Madhabi Buch still owns a 99% stake in the company (Agora) by March 31, 2024... She is caught red-handed lying about the company's stake. This is a case of wilful concealment," Khera said.
Khera further accused Buch’s husband, Dhaval Buch, of receiving Rs 4.78 crore from Mahindra Group between 2019-2021. Mahindra has denied the allegations, calling them "false and misleading."
The Congress also previously accused Buch of holding an office of profit at ICICI Bank, a claim the bank has denied.
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