BUSINESS BJP, Congress Up in Arms Over SEBI Chairperson's Alleged Links to ICICI Bank! Check BJP and Congress Clash Over SEBI Chairperson's Alleged ICICI Bank Ties Harsh Sep 03, 2024 07:58 GMT Madhabi Puri Buch: Following ICICI Bank's denial of claims that SEBI Chairperson Madhabi Puri Buch received any salary or Employee Stock Ownership Plans (ESOPs) from the bank in addition to her retirement benefits, the political spat between the BJP and Congress heated up. Prior to this, the Congress had charged Buch with holding a "office of profit" and said she received Rs 16.80 crore from ICICI Bank between 2017 and 2024 while working as a full-time SEBI member. BJP Criticises Congress Congress picks it up from where Hindenburg Research left, targets the SEBI Chief, ends up with egg on its face.Is it a coincidence that every time Congress decides to peddle a bogus agenda, either Mr Kharge or Khera, are pushed to the fore? https://t.co/zLv34BgzzA— Amit Malviya (@amitmalviya) September 2, 2024 In response to these accusations, BJP IT cell chief Amit Malviya criticized the Congress, describing their attempt to discredit Buch as a failed "bogus agenda." Malviya remarked, "Congress picks it up from where Hindenburg Research left off, targets the SEBI chief, and ends up with egg on its face." Congress Plans Further Response There has been a wishywashy response from ICICI Bank to the revelations made by the INC regarding the SEBI Chairperson. Since it is a late hour, our counter to the response will be out tomorrow morning by 930am latest. देखते रहिए!— Jairam Ramesh (@Jairam_Ramesh) September 2, 2024 Despite ICICI Bank’s denial, the Congress dismissed the response as "wishywashy" and announced they would provide a detailed rebuttal on Tuesday at 2 pm. Malviya, in a sharp retort, questioned whether the Congress had received assistance from Hindenburg Research, pointing out the timing of their statements and their previous connections to the firm. Background on Hindenburg Allegations This controversy follows last month's allegations from Hindenburg Research, which claimed that SEBI’s inaction against the Adani Group could be linked to Buch’s investments in offshore funds associated with the conglomerate. Buch had rejected these claims as "baseless." Congress Demands Action In addition to seeking Madhabi Puri Buch's resignation, the Congress has demanded a response from Prime Minister Narendra Modi, who is in charge of the Cabinet's Appointments Committee. In addition, they have questioned the Prime Minister's Office's (PMO) influence over these selections and the standards used to select regulatory heads, calling on the Supreme Court to look into the matter. Keep watching our Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER. Read More Read the Next Article