“The non-biological PM cannot continue this indefinite stonewalling. Capital markets, in which crores of Indians make their investment, demand full transparency and integrity on the part of their regulator,” the senior Congress leader said.Addressing a press conference at the AICC headquarters here, Congress’ media and publicity department head Pawan Khera said that Buch was a whole time member of SEBI from April 5, 2017 to October 4, 2021 and the chairperson from March 2, 2022 onwards.”The Securities and Exchange Board of India (SEBI) is entrusted with safeguarding the hard-earned money of the Indian middle class, which painstakingly saves every penny that it can, to invest in the hope of a secure future.Yet, while the people place their hopes in SEBI, whose chairperson is appointed directly by the Prime Minister of India, they appear to have been conning us all along,” he alleged.There have been multiple conflicts of interest involving the SEBI chairperson, he said.”Between 2017-2021, as a whole time member of SEBI, the current SEBI chairperson received a salary from ICICI Bank amounting to Rs 12. 63 crore, he claimed. This is in violation of Section 54 of the SEBI (Employees’ Service) Regulations, 2001, he said. Between 2017-2024, as a whole time member and later as the SEBI chairperson, she also received income from ICICI prudential amounting to Rs 22. 41 lakh, Khera alleged. This is again in violation of Section 54 of the SEBI (Employees’ Service) Regulations, 2001, he added.
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