Mahua Moitra Files Lokpal Complaint Against SEBI Chairperson Madhabi Puri Buch Over Alleged Quid Pro Quo
Kolkata: On Friday, TMC MP Mahua Moitra lodged a formal complaint with the Lokpal against SEBI Chairperson Madhabi Puri Buch, alleging potential quid pro quo arrangements that could threaten national interests. Moitra’s complaint, filed both electronically and in physical form, demands that the Lokpal refer the matter to the CBI or ED for a preliminary investigation within 30 days, followed by a full FIR enquiry.
In her three-page letter, Moitra emphasized the gravity of the issue, asserting that it impacts national interests and the welfare of countless investors. The complaint follows allegations made by US short-seller Hindenburg Research in August. Hindenburg claimed that SEBI’s reluctance to act against the Adani Group might be linked to Buch’s alleged stakes in offshore funds associated with the conglomerate. Buch has vehemently denied these allegations, calling them “baseless,” while the Adani Group has stated that it had no commercial dealings with Buch.
Hindenburg’s report suggested that Buch and her husband had undisclosed investments in offshore funds in Bermuda and Mauritius, which were purportedly used by Vinod Adani, the elder brother of Adani Group Chairman Gautam Adani, to manipulate stock prices. The TMC had previously called for Buch’s suspension from her position at SEBI.
