Madhavi Buch, the chairman of the board, received a lot of confidence. No evidence was found against him. In the last session of the Parliament, his name came into the limelight. A complaint was filed against him. The Congress accused him of abusing his position.
Not only that, it also blamed his family and the BJP. It said that corruption has taken place on a large scale. Similarly, the American short-selling firm Hindenburg Research Institute also brought serious allegations against him. The report revealed that Sebi chief Madhavi Puri Buch and her husband Dhabal Buch held shares in foreign companies involved in the Adani Group scam. Madhavi Buch was denied by her husband.
There was a lot of buzz around this Hindenburg report. In the meantime, the central government has started an investigation amid the rumours about the allegations against Madhavi. The audit was conducted by both the agency and the Ministry of Finance. However, now the investigation of this case is over. According to official sources, no evidence was found against Madhavi or his family during the investigation.
According to a report by India Today, sources have informed that the investigation has been completed and no suspicious evidence has been found against him. The government believes that Madhavi Puri Buch, as the chairman of SEBI, has made a lot of efforts to clean up the system. However, many people are not happy about it. Madhavi Puri Buch will hold the post till the end of her tenure. His tenure will end on February 28, 2025.
It should be said that Madhavi Puri Buch took charge as the first woman chairman of the Securities and Exchange Board of India (SEBI) on March 1, 2022.