Mumbai (Staff Correspondent): A special Anti-Corruption Bureau (ACB) has ordered its officials to register FIR against former Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and several other SEBI officials. The court has said in its order that “serious evidence exists in the case of fraud and corruption in the stock market.”
SEBI allegedly allowed listing of a company which failed to meet the standards. This decision of SEBI allegedly led to market manipulation and caused losses to investors.
It is also alleged that there was collusion between SEBI and several corporate entities, which led to insider trading and embezzlement of money.
Earlier also Madhabi Puri Buch was accused of –
• Madhabi and her husband Dhaval Buch were investors in an offshore fund linked to the Adani Group
• The Buch couple had stakes in offshore funds in Bermuda and Mauritius linked to Adani’s brother Vinod Adani
• While working at SEBI, Madhabi Buch had a stake in consulting firm ‘Agora Partners’, but she did not disclose these investments.
The Congress has accused that Madhabi Puri Buch was indulged in massive corruption during her tenure as SEBI chief and the Modi government is also involved in it.
Congress demanded that this corruption case be investigated impartially and strict action be taken against whoever is found guilty.
