Congress Demands SC Probe into SEBI Chairperson

ICICI Bank has refuted allegations made by the Congress party that SEBI Chairperson Madhabi Puri Buch received Rs 16.80 crore from ICICI Bank and its subsidiaries post-retirement, raising concerns about conflict of interest. Congress spokesperson Pawan Khera claimed Buch received income from ICICI Bank while serving as a member and later Chairperson of SEBI, suggesting a breach of regulatory norms. ICICI Bank clarified that any payments made to Buch post-retirement were related to ESOPs and retiral benefits accrued during her employment, denying any post-retirement salary or ESOP grants. The Congress party has called for a Supreme Court intervention and demanded Buch's dismissal, questioning the integrity of her appointment. The controversy also intersects with recent allegations from Hindenburg Research about Buch's investments in offshore entities linked to the Adani Group scandal, which Buch and her husband have denied.