National desk
10 September
Sandeep Dhand Ludhiana
The Congress party has raised serious allegations against SEBI chief Madhavi Puri Buch, claiming that she held a 99% stake in Agora Advisory Private Limited while the company provided services to Mahindra & Mahindra Group. Additionally, Congress accused Buch’s husband, Dhaval Buch, a longtime SEBI member, of receiving Rs 4.78 crore from Mahindra & Mahindra between 2019-21. Congress President Mallikarjun Kharge alleged that Prime Minister Narendra Modi has compromised SEBI’s integrity to protect his close associates.
Mahindra & Mahindra refuted these claims, stating that Dhaval Buch was hired solely for his global supply chain expertise and denied seeking any special treatment from SEBI. Congress General Secretary Jairam Ramesh questioned on social media whether PM Modi was aware of Madhavi Puri Buch’s involvement in these activities. Kharge further alleged that the Modi government deliberately appointed the SEBI chief to benefit their friends, suggesting a larger conspiracy linked to the ongoing investigation of the Modi-Adani scandal by SEBI.
The controversy has sparked a political uproar, with Congress demanding answers and transparency from the government.