Investigation Concludes Without Findings
According to government sources, the investigation into Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch has concluded without any findings against her or her family. No action is expected to be taken, and Buch is not anticipated to resign from her position.
Background of the Controversy
The probe into Buch followed allegations of conflict of interest and financial misconduct. The controversy began after Hindenburg Research, a US-based short-seller, raised questions about her silence on these allegations. Claims were made suggesting ties to companies regulated by Sebi, along with accusations that her consulting firm, Agora Advisory Pvt Ltd, received large payments from these firms.
Political Repercussions
The issue gained political traction when the Congress party echoed concerns about Buch’s potential conflicts of interest, further fueling the debate on her impartiality. This led to the Parliamentary Public Accounts Committee (PAC) launching an investigation into her conduct to address public concerns about Sebi’s integrity.
No Wrongdoing Found
However, government sources have now confirmed that no wrongdoing was found during the investigation, and the case has been closed without any further action.
