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The Central Government has announced the appointment of Finance Secretary Tuhin Kant Pandey as the next Security and Exchange Board of India (SEBI) chief. Tuhin will hold this position for the next 3 years. Tuhin Kant Pandey will replace the current SEBI Chief Madhabi Puri Buch. Who are retiring on 28 February.
Tuhin Kant Pandey is a 1987 batch IAS officer of Odisha cadre. He is one of the busiest secretaries in India in the Modi 3.0 government. They are currently handling four important departments in the central government. He was appointed to the post of Finance Secretary on 7 September 2024.
The government had sought applications for the new SEBI Chief on 27 January The Finance Ministry sought an application on 27 January for the appointment of the new chairman. Buch's term was 3 years old. He replaced Ajay Tyagi on 2 March 2022. Butch was a hole-time member in SEBI from 2017 to 2022. Madhabi Puri Buch is known for her strict nature.
New SEBI chief will get ₹ 5,62,500 salary The new SEBI Chief will get salary and other facilities equal to the central government secretary or a car and house will get a salary of Rs 5,62,500 every month.
Now know about Madhabi Butch Buch started his career in 1989 from ICICI Bank. From 2007 to 2009, ICICI Bank had executive directs. She was the managing director and CEO of ICICI Securities from February 2009 to May 2011.
She moved to Singapore in 2011 and worked there at Greater Pacific Capital. Madhabi has a long experience of 30 years in the financial sector and she has lived in all SEBI committees before. She was also in its advisory committee.
Large allegations against SEBI Chief …
Hindonberg's charge- Sebi Chief's stake in an offshore company associated with Adani Group
- American company Hindonburg Research released a report at 9:57 pm on Saturday (August 19). It claimed that SEBI chief Madhabi Puri Buch and her husband Dhawal Buch have a stake in the offshore company associated with Adani Group. Based on the whistleblower documents, Hindenberg claimed that Buch and her husband have a stake in Mauritius's offshore company 'Global Dynamic Opportunity Fund'.
- Hindonberg alleged that Vinod Adani, brother of Adani Group Chairman Gautam Adani, had invested billions of dollars in the 'Global Dynamic Operationality Fund'. This money was used to speed up the prices of Shares of Adani Group.
- Buch remained 100% shareholder in Egora Partners Singapore as of 16 March 2022 and she was the owner of her tenure as a member of SEBI. She transferred her shares to her husband's names 2 weeks after the appointment as SEBI Chairperson.
Accused of taking salary from three places while SEBI Chief
- The Congress party was also accused by the Congress party. The Congress had accused 3 places including ICICI Bank of taking salary while joining SEBI.
- Congress spokesperson Kheda had said, 'Madhabi Puri Buch was a full -time member in SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri became the chairperson of Buch SEBI. The cabinet appointing SEBI chairperson includes PM Modi and Amit Shah.
- However, both SEBI Chief and ICICI Bank rejected the allegations. The bank said, “Madhavi was not given any salary or employee stock option after retiring from the bank. He only took retirement benefits.
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Read this news related to SEBI Chief too …
New Report by Hindonburg, SEBI chief accused: Madhabi Puri Buch had a stake in offshore entities related to Adani Group
The firm Hindenberg Research, known for its report on Adani Group, has accused Madhabi Puri Buch, Chief of Security Exchange Board of India (SEBI). American short-sales firm Hindenberg has claimed in its new report that SEBI Chief had a share in the obscure offshore entities used in the money rigging scandal through the Adani Group.
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Hindonberg's SEBI chief accused: Madhabi Buch's stake in the same foreign fund, in which Adani's investment; Butch said- our life open book
American company Hindonburg on Saturday made serious allegations against the chairperson of the Security Exchange Board of India (SEBI). Hindenberg claimed in her report that Madhabi Puri Buch and her husband Dhawal Buch have a stake in the offshore company associated with Adani Group.
Buch described these allegations as an attempt to “baseless” and “character abuses”. SEBI Chairperson expressed his desire to declare all financial records. In a joint statement with her husband Dhawal Buch, she said, “Our life and financials are an open book.”
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SEBI chief accused of taking advantage of 3 places: Congress bid- took ₹ 16.80 crore salary from ICICI; Bank said- only for retirement benefits
Madhabi Puri Buch, Chief of Security and Exchange Board of India (SEBI), is on target of Congress. Congress spokesperson Pawan Kheda held a press conference on Monday and accused Madhavi of taking salary from 3 places including ICICI Bank while joining SEBI.
Kheda said, 'Madhabi Puri Buch was a full -time member in SEBI from April 5, 2017 to October 4, 2021. Then on March 2, 2022, Madhabi Puri became the chairperson of Buch SEBI. The cabinet appointing SEBI chairperson includes PM Modi and Amit Shah.
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