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Sebi Chief Madhabi Puri Buch faces allegations of receiving rental income from a Wockhardt-linked firm, Carol Info Services Ltd.
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The firm allegedly paid Rs 2 crore as rent for Buch’s Mumbai apartment between 2018-2024.
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Buch denies allegations, stating the rental agreement was concluded in accordance with standard market practices.
Indian National Congress has leveled allegations against Securities and Exchange Board of India (Sebi) Chairperson Madhabi Puri Buch, claiming she received rental income from a Wockhardt-linked firm, Carol Info Services Ltd. The firm allegedly paid Rs 2 crore as rent for Buch’s Mumbai apartment between 2018-2024.
Buch has denied the allegations, stating the rental agreement was concluded in accordance with standard market practices. She emphasized that the property was leased out before Wockhardt came under Sebi investigation and that she had not dealt with any files related to the company.
The Congress alleged a conflict of interest, as Sebi was investigating Wockhardt Ltd for alleged insider trading during the period. However, Buch clarified that all investigations are handled according to established procedures, and no investigation files go to the Chairperson.
The luxury apartment complex, Vivarea, where the property is located, is known for its high-end residents, including corporate honchos and entrepreneurs. Real estate portals list prices of flats there from Rs 15 crore to over Rs 50 crore.
