Pawan Khera claims SEBI chief Madhabi Puri Buch gets salary from ICICI apart from government; Jairam Ramesh raises questions to PM Modi

Congress leader Pawan Khera addresses a press conference, in New Delhi, Monday, Sept. 2, 2024.
| Photo Credit: PTI

Congress leader Pawan Khera claimed that Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch is drawing a salary from the ICICI bank, apart from the government.

Mr. Khera in a press conference in Delhi on Monday (September 2, 2024) calimed so and asked her to step down as she allegedly violated Section 54 of the SEBI.

Mr. Khera said that Ms. Buch received a regular salary of ₹16 crores 80 lakhs while working for the government. “The role of SEBI is to regulate the share market where all of us, including the middle class, invest our money,” he said.

“The SEBI chief is appointed by a committee comprised of the Prime Minister and the Union Home Minister Amit Shah,” he noted.

‘Serious questions’ by Jairam Ramesh

Following this, Rajya Sabha MP Jairam Ramesh also raised some questions through a post on X (formerly Twitter).

“Serious questions have been raised over the conflict of interest of the SEBI Chairperson in the regulatory body’s Supreme Court-mandated investigations into violations of securities laws by the Adani Group,” Mr. Ramesh wrote on the X.

He asked if the committee headed by the Prime Minister Narendra Modi had gone through the ‘shocking facts’ about the SEBI Chairperson,“…or is the ACC completely outsourced to the PMO”.

“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,” Mr. Ramesh’s post further read.