Congress: Buch invested in Chinese firms amid geopolitical tensions

“This time, these conflicts of interest move beyond the borders of India. First, between 2017-2023, Madhabi Buch, as a whole-time member and later as the SEBI Chairperson, traded in listed securities worth Rs 36.9 crore. This is in violation of Section 6 of SEBI’S Code on Conflict of Interest for Members of Board (2008),” said Khera.

He also said that the Congress has “information that between 2017 and 2021, Buch held foreign assets”. “We hereby ask: when was the first time she declared the foreign assets and to which agency of government? Is it true Madhabi Buch was actively involved in Agora Partners PTE (Singapore) as she was a signatory to the bank account?”

Congress chief Mallikarjun Kharge, on X, said it is not surprising that the “government’s favourite, the SEBI Chairperson, is also not behind in investing in Chinese companies”.

His party colleague Jairam Ramesh said: “Our pointed questions to the non-biological PM are as follows: 1. Is the PM aware that the SEBI Chairperson has been trading in listed securities while in possession of Unpublished Price Sensitive Information? 2. Is the PM aware that Madhabi P. Buch has made high value investments outside India? If yes, what is the date of this investment and date of disclosure? 3. Is the PM aware that SEBI Chairperson has been investing in Chinese firms at a time when India is facing geopolitical tensions with China,” he asked in a post on X.

The fresh allegations come a day after Buch and her husband, Dhaval Buch, denying recent allegations levelled by the Congress.