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Informist, Monday, Sep 2, 2024

 

--SEBI Buch: Won't talk on REIT; may be accused of conflict of interest

 

By Rajesh Gajra

 

MUMBAI – Securities and Exchange Board Chairperson Madhabi Puri Buch was rushed away by security personnel after her session at the Confederation of Indian Industry-organised Financing 3.0 Summit in Mumbai today and refused to answer queries from the media on fresh allegations of conflict of interest by the Indian National Congress party.

 

Among other allegations, the Congress party said that between 2017 and 2021, when Buch was a whole-time member at SEBI, she received a salary of 126.3 mln rupees from ICICI Bank. Between 2021 and 2023, Buch also got employee stock option plan benefits of 28.4 mln rupees from ICICI Bank.

 

Speaking at the CII event on the government's financial inclusion agenda, Buch said she could talk about investing in real estate investment trusts but she would get accused of conflict of interest. "So, it would be better for me to abstain," she said.

 

Buch was hinting at the allegation by US short-seller Hindenburg Research that after her husband Dhaval Buch was appointed in 2019 as a senior advisor in global investment firm Blackstone, which had large investments in real estate investment trusts in India, she had promoted the instrument to investors as her favourite asset class at industry conferences.  End

 

Edited by Ashish Shirke

 

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