Hindenburg: Her appointment to SEBI in March 2022 marked a significant milestone for women in leadership and for the financial sector.
SEBI Chairperson
American short seller Hindenburg Research has attacked stock market regulator Sebi chief Madhavi Buch in its new report. In a blog post, Hindenburg accused Sebi chairperson Madhavi Buch of having a stake in Adani’s investment fund.
Hindenburg has alleged that even after 18 months of the report against the Adani group, SEBI has not shown any interest in the investigation. No action is taken even after providing full details of Adani Group’s network in Mauritius.
Also read this: Hindenburg Levels Shocking Allegations Against SEBI Chair
Citing classified documents, Hindenburg said the SEBI chairperson and her husband Dhaval Buch had stakes in Adani’s shell companies abroad. These companies are run by Vinod Adani, elder brother of Adani Group chairman Gautam Adani.
NEW FROM US:
Whistleblower Documents Reveal SEBI’s Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandalhttps://t.co/3ULOLxxhkU
— Hindenburg Research (@HindenburgRes) August 10, 2024
Who is Madhavi Butch?
Born in 1966, Madhavi Buch, the first woman head of SEBI, grew up in Mumbai. His father Kamal Puri worked in the corporate sector while his mother had a doctorate in political science.
Madhavi Buch was just 18 years old when her marriage was fixed to Dhaval Buch. Her husband Dhaval was a director in multinational company Unilever. When she turned 21, her marriage was consummated. After marriage, Madhavi took a big leap by taking her career seriously.
Education and career
Madhavi Puri Buch holds an MBA from Indian Institute of Management (IIM) Ahmedabad and a Bachelor’s degree in Mathematics from St. Stephen’s College, New Delhi.
Buch has served as a consultant to the New Development Bank in Shanghai and head of the Singapore office of private equity firm Greater Pacific Capital. Along with this he also served as Managing Director (MD) and Chief Executive Officer (CEO) of ICICI Securities Limited and Executive Director on the Board of ICICI Bank.
Also read this: SEBI Tightens Noose on Insider Trading: New Rules for Mutual Funds
Buch has also served as a non-executive director on the boards of several companies.
Tenure in SEBI
Madhavi Puri Buch is not only the first woman chairperson of SEBI, but also the first person from the private sector to reach this position, to head SEBI. No woman has held this post before her.
Madhabi Puri Buch was appointed as the Chairperson of SEBI in March 2022. He replaced Ajay Tyagi. The Appointments Committee of the Cabinet has appointed Madhbi Puri Buch as the Chairperson of SEBI for a period of three years. His tenure will end in 2025.
Notably, Madhabi Puri Buch has served as a full-time member of the Securities and Exchange Board of India (SEBI).
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• SEBI Survey: Women Show Lower Loss Ratio in Stock Market
