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Informist, Monday, Jan. 27, 2025

 

--Govt invites applications for post of SEBI chair by Feb 17 

 

MUMBAI – The government has invited applications for the post of chairman of the Securities and Exchange Board of India in Mumbai, according to a newspaper advertisement published on Monday. The advertisement said that applications for the eligible candidates should be sent in before Feb. 17.

 

The appointment will be for a maximum period of five years from the date of assumption of charge or till the appointee attains the age of 65 years. Incomplete applications and the ones received after the mentioned date will not be accepted, the advertisement said. The three-year term of current SEBI Chairperson Madhabi Puri Buch is set to expire on Feb.28.

 

Buch has been a controversial figure at the helm of the capital markets regulator over the past six months. US-based Hindenburg Research in July had alleged that the SEBI chief and her husband, Dhaval Buch, had a stake in offshore funds that had links to those allegedly used by Vinod Adani, older brother of Adani Group Chairman Gautam Adani, to round-trip investment into Indian stocks, including Adani Group companies. This, the research firm said, raised the prospect of a conflict of interest in SEBI's investigation of the firm's allegations against the Adani Group made in January 2023, adding that the regulator had also delayed the investigation.

 

In October, a parliamentary panel had summoned Buch amid the controversy and a growing demand from the Opposition party for a parliamentary probe into Hindenburg's allegations and after the Congress party had claimed that Buch received a fee from her consultancy services company Agora Advisory while working at SEBI. Buch, who faced calls to resign, denied all the allegations.  End

 

Reported by Siddhi Chauhan

Edited by Tanima Banerjee

 

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