Lok Sabha MP Mahua Moitra Files Lokpal Complaint Against SEBI Chief Madhabi Puri Buch Over Alleged Adani Links

Mahua Moitra, Member of Parliament in Lok Sabha, has filed a complaint before the Lokpal against Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI) over allegations of misconduct and financial irregularities.

The Trinamool Congress member has accused the SEBI head of improper conduct and entering into quid pro quo arrangements. "My LokPal complaint against Ms. Puri-Buch been filed electronically & in physical form. LokPal must within 30 days refer it to CBI/ED for a preliminary investigation and then a full FIR enquiry. Every single entity involved needs to be summoned & every link investigated," Moitra posted on her 'X' handle.

Saying that it was a matter of national interest, Moitra urged the Lokpal to investigate the matter for violations of the Prevention of Corruption Act.

The complaint has been filed following the allegations raised by US-based Hindenburg Research that the SEBI Chief and her husband had investments in offshore funds which are linked to Adani group of companies while the SEBI was probing the complaints against the Adani group.  The SEBI chief is accused of having a conflict of interest and of misconduct for not recusing herself from dealing with complaints against the Adani group.

Buch is also accused of running a private consultancy firm, Agora Advisory Ltd, while holding the SEBI post.

SEBI and Buch had issued statements denying the allegations after the publication of the Hindenburg Report.