The recent new allegations leveled against Mahindra and ICICI Bank have been completely rejected by the chairperson of the capital market regulator Securities and Exchange Board of India (SEBI), Madhabi Puri Buch and her husband Dhawal Buch.
In her reply letter against the allegations of irregularities, Madhabi Puri Buch said that since being appointed in SEBI, she has never seen the files related to Mahindra Group, Agora Partners, Agora Advisory, Sembcorp, ICICI Group, Pidilite, Dr. Reddy’s, Visu Leasing or Alvarez.
This statement has been issued personally by the chairperson of SEBI, in which all the allegations have been described as completely false, baseless, derogatory and malicious.
On behalf of the couple, it was said that all the allegations made are false, baseless, wrong, derogatory and malicious. The allegations made are based on our income tax returns. In other words, all these matters are part of our income tax returns. All these cases have been fully disclosed and taxes have also been paid on them.
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Madhabi Puri Buch and her husband Dhawal Buch issued a joint letter clarifying that it appears that when the spouse of a senior government official is appointed as an advisor, it is not seen as a professional qualification. The assumptions of reaching such a conclusion by ignoring the strength of expertise and qualification are extremely unfortunate.
He further said that their income tax returns have been obtained in a fake and illegal manner, which is a violation of our privacy as well as our fundamental rights. The rules of income tax have also been violated.
Giving clarification in the statement, it was said that whatever payment was made to Agora by ICICI Bank. It is interest on the deposit deposited in its bank.
Issuing a joint statement, the Buch couple said that making allegations against them by illegally gathering information is a violation of their privacy laws. He said that we are being accused in installments to keep the matter hot.
This statement from Buch and her husband has come after several allegations were made by the main opposition party Congress against the SEBI chief. Congress has accused Madhabi Puri Buch of getting income from ICICI Bank even after retirement and rent from Wockhardt Associates.
Congress had alleged that the SEBI chief owns 99 percent stake in the firm providing consultancy services to Mahindra & Mahindra Group and her husband has received income of Rs 4.78 crore from Mahindra & Mahindra Group.
Regarding these allegations of Congress, Mahindra Group has said that these allegations are false and have been made with the aim of spreading confusion.
