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Godrej Consumer Products MD Sudhir Sitapati defends Dhaval Buch amid conflict of interest allegations.
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Sitapati says Rs 4 crore consulting fee is standard for private sector experts like Buch.
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He highlights challenges of transitioning from private to public sector, citing differing operating principles.
Godrej Consumer Products Managing Director Sudhir Sitapati has come out in support of Dhaval Buch, husband of SEBI Chairperson Madhabi Puri Buch, amid allegations of conflict of interest. Sitapati, who worked with Buch at Hindustan Unilever, vouched for his integrity and expertise.
Sitapati defended Buch’s consulting career, stating that the Rs 4 crore fee for his services is standard in the private sector. He emphasized that such compensation is not unusual for someone of Buch’s qualifications. Sitapati also highlighted the challenges of transitioning from the private to public sector, citing differing operating principles.
The controversy surrounding Buch and his wife began with allegations of financial impropriety and conflict of interest. Madhabi Puri Buch has denied the allegations, stating that she made necessary disclosures and adhered to recusal guidelines. Sitapati’s defense echoes this, emphasizing the importance of understanding the private sector context.
Sitapati warned that if private sector professionals are discouraged from taking government roles due to scrutiny, India will miss out on valuable expertise. He advocated for reconsidering old socialist biases against the private sector, recognizing the talent and expertise it can bring to governance.
