SEBI chief Madhabi Puri Buch and her husband Dhaval Buch on Friday denied allegations of irregularities and conflict of interest levelled by the Congress, saying these allegations are “false, motivated and defamatory”. Buch said the allegations are based on the income tax returns filed by them. He further said all information has been fully disclosed and taxes have been duly paid.
“Our income tax returns have clearly been obtained through fraudulent means and illegally. This is not only a clear violation of our right to privacy (which is a fundamental right) but also a violation of the Income Tax Act,” Buch said in a statement.
The Congress has recently levelled several allegations against the Sebi chief and her husband, alleging conflict of interest involving a consultancy firm linked to them. The Congress had alleged that Dhaval Buch earned Rs 4.78 crore from the Mahindra Group at a time when the regulator was investigating him for market violations.
According to the statement, after joining Sebi, Madhabi never dealt with any files related to Agora Advisory, Agora Partners, Mahindra Group, Pidilite, Dr Reddy’s, Alvarez & Marsal, Sembcorp, Visu Leasing or ICICI Bank.
It further added, “The allegations are completely false, malicious and defamatory. Madhabi has complied with all disclosure and disclaimer guidelines of SEBI, and in fact, maintains an active continuous disclaimer list with SEBI beyond the requirements under the guidelines.”
