Market regulator SEBI chairperson Madhavi Puri has come under fire from all three sides, including Buch Hindenburg, Congress, colleagues. SEBI employees protested against Madhabi at SEBI headquarters today. Also demanded his resignation due to his misbehaviour. Today around 200 employees protested in front of SEBI office in Mumbai. Earlier, a letter was also written to the Finance Ministry regarding the mistreatment of Madhabi. SEBI employees returned to work in the office after protesting for a few hours. SEBI yesterday denied Madhbi’s claim of mistreatment by employees on Wednesday. Against which the employees protested today indicated, “The protest is aimed at expressing dissent and solidarity against the exercise by armed top management under the guise of a press conference.” SEBI employees immediately returned a press release to SEBI stating that SEBI employees were spreading falsehoods. Sebi officials have complained to the finance ministry that Madhabi is experiencing a toxic work culture at the capital market regulator, including harsh language, setting unrealistic targets and There have been accusations of excessive micro-managing.
SEBI alleges conspiracy by outside elements:
On the other hand, SEBI in a press release said that the claims against the SEBI chief are due to the demand for higher salary allowances and misrepresentation of targets achieved and delay in decision-making. Some “outside elements” agitated his employees that they should not be pressured to adhere to high standards of performance and accountability. However, SEBI has not disclosed any information about these extraneous elements. SEBI Chairperson Madhbi Puri Buch has faced allegations of conflict of interest from US short-seller Hindenburg Research and opposition political parties, with Hindenburg alleging that Buch and her husband were previously swindled by the Adani group. Also invested in offshore funds used, which are being investigated by regulators. Buch has denied the allegations. The Congress has also claimed to be drawing salary and benefits from three companies simultaneously.
