Know all the information about SEBI chairperson Madhabi Puri Buch along with her salary and net worth
Madhabi Puri Buch, the chairperson of SEBI (Securities and Exchange Board of India), is facing controversy due to allegations by Hindenburg Research. On August 10, the research firm released a report accusing Buch and her husband, Dhaval Buch, of involvement in offshore entities connected to the Adani Group’s alleged financial misconduct.
Who is SEBI chairperson Madhabi Puri Buch, biography, age, parents, family, husband, son, education, salary and net worth
Whistleblower Documents Show That Madhabi Puri Buch, The Current Chairperson Of SEBI, And Her Husband Had Stakes In Both Obscure Offshore Funds Used In The Adani Money Siphoning Scandal#SEBI #Hindenburg #HindenbergResearch#DhavalBuch#MadhabiPuriBuch pic.twitter.com/AESZbEuQm9
โ Fafda Jalebi (@FafdaJalebii) August 10, 2024
Madhabi, born in 1966 in Mumbai, began her career with the ICICI Bank after earning an MBA from IIM Ahmedabad in 1989. In 2009, she made history by becoming the first woman to serve as Managing Director and CEO of ICICI Securities, propelling the company to enormous growth. After leaving ICICI, Madhabi served as a Consultant for the New Development Bank in Shanghai before leading Greater Pacific Capitalโs Singapore office.
Upon returning to India, she took on multiple non-executive director roles at a number of major firms. In 2017, she assumed the position of Whole Time Member at SEBI where she managed crucial portfolios such as surveillance and mutual funds. On March 2022, Madhabi became the first woman chairperson at SEBI overseeing all important departments related to supervision, regulation and monitoring.
know all details about Madhabi:
- Born: 1966
- Age: 58-years-old
- Father: Kamal Puri
- Husband: Dhawal Buch
- Son: Abhay Buch
- Alma mater: St. Stephen’s College, IIM Ahmedabad
While the exact salary of Madhabi Puri batch hasn’t been disclosed, there are reports that the chief takes home three lakhs per month that translates to over Rs.36,00,00 per annum.
Hindenburg’s report alleges that Buch and her husband owned hidden stakes in the exact same offshore Bermuda and Mauritius funds, found in the same complex structure, used by Vinod Adani. A declaration of funds, signed by a principal at IIFL showed that the source of the investment is โsalaryโ and that the coupleยดs net worth is estimated at $10 million.
Why Madhabi is dragged into the controversy?
Hindenburg Research’s recent report accuses the Indian conglomerate Adani Group of orchestrating “the largest con in corporate history.” The report specifically mentions the “IPE Plus Fund,” a small offshore fund in Mauritius set up by an Adani director through India Infoline (IIFL). It alleges that Vinod Adani, brother of Gautam Adani, used this structure to invest in Indian markets with funds siphoned through inflated power equipment invoicing to the Adani Group.
NEW FROM US:
Whistleblower Documents Reveal SEBIโs Chairperson Had Stake In Obscure Offshore Entities Used In Adani Money Siphoning Scandalhttps://t.co/3ULOLxxhkU
โ Hindenburg Research (@HindenburgRes) August 10, 2024
Hindenburg also claims that SEBI Chairperson Madhabi Puri Buch and her husband, Dhawal Buch, had undisclosed stakes in the same offshore funds used by Vinod Adani. Whistleblower documents indicate that Madhabi Buch and her husband opened their account with IPE Plus Fund 1 in Singapore on June 5, 2015.