Madhabi Buch Accused By Congress Of Insider Trading With Unpublished Price-Sensitive Information

File Photo

New Delhi: Upping the ante over the conflict of interest row involving SEBI Chairperson Madhabi Buch, the Congress on Saturday claimed that she traded in listed securities while in possession of unpublished price sensitive information and has been investing in the Chinese firms at a time when India is facing geopolitical tensions with China.

Congress general secretary Jairam Ramesh pointed to "fresh conflict of interest allegations" against Buch, claiming that she, as a whole-time member and later as the SEBI chairperson, traded in listed securities worth Rs 36.9 crore.

The Congress attack comes a day after Buch said that she had made all necessary disclosures and complied with recusal guidelines in dealing with companies such as Mahindra Group that hired her husband, as she rejected allegations of impropriety as "false, malicious and motivated".

Buch and her husband Dhaval Buch in a joint statement -- the second since US-based short seller Hindenburg Research charged her of not being motivated enough to act on allegations against the Adani group due to conflict of interest -- also addressed issues raised by the opposition Congress over receiving payments from her previous employer the ICICI Bank while being a whole time member of the SEBI.

The statement said Buch never dealt with any file involving Agora Advisory and Agora Partners -- the advisories where she held 99 per cent and continued to earn revenue even after she joined the market regulator body Sebi in 2017.