New Delhi:
Madhabi Puri Buch, the chairman of SEBI (Securities and Exchange Board of India), has not received any salary since her retirement, ICICI Bank said today, denying Congress's allegations that it is an “office of profit”.
The Congress earlier today alleged that Ms Buch, who joined SEBI as a member in 2017 and later became its chairman, had received Rs 16.8 crore from ICICI Bank as salary and other compensation.
“ICICI Bank or its group companies have not paid any salary or granted ESOPs to Madhabi Puri Buch after her retirement, except her pension benefits. It may be noted that she has opted for superannuation with effect from October 31, 2013,” the bank said in a statement.
“During her tenure with the ICICI Group, she received compensation in the form of salary, pension benefits, bonus and ESOPs, in accordance with applicable policies… All payments made to Ms. Buch after her retirement were allocated to her during her tenure with the ICICI Group. These payments included ESOPs and pension benefits,” the statement said.
Jairam Ramesh of Congress has alleged a conflict of interest by the SEBI chairman, saying serious questions have been raised in the Supreme Court-ordered probes of the regulator.
“These questions seem to have been simply brushed aside by the Government of India. Now comes this new revelation of shocking illegality,” Mr Ramesh said in a post on X.
At a press conference today, alleging conflict of interest, Congress asked Prime Minister Narendra Modi to come clean about her appointment as chairman of the Cabinet Appointments Committee.
The party alleged that the total amount received by Ms Buch from ICICI since her joining SEBI in 2017 till date totals Rs 16.8 crore. That is 5.09 times the income she received from SEBI during the same period of Rs 3.3 crore.
The Supreme Court, Congress said, should take cognizance of the new revelations and demanded that the SEBI chairman be immediately dismissed.