The former SEBI Chief Madhabi Puri Buch faces an ACB case.

The former Chairman of India's stock market regulatory body, SEBI, Madhabi Puri Buch is currently facing new troubles. It is well-known that the American short-seller Hindenburg had previously accused her of helping Adani. Following that, allegations were also made about the investment dealings of the Buch couple. Recently, a Mumbai court ordered the registration of a case against Madhabi Puri Buch and five others, prompting the Anti-Corruption Bureau (ACB) to step in. This action is related to stock market fraud, corruption, and regulatory violations that occurred in 1994. The case was filed based on the court's order, and the FIR was registered. A complaint was lodged by a journalist from Thane, Saban Srivastav, who accused SEBI officials of failing to perform their duties correctly and being involved in market manipulation and fraud.

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ACB Case Against Former SEBI Chief Madhabi Puri Buch

Violation of Stock Market Rules In 1994, SEBI had granted approval for a company to be listed on the Bombay Stock Exchange (BSE). However, allegations emerged that the company was financially unstable and had violated stock market rules. It was also revealed that the company had inflated its share prices intentionally. The complaint alleges that both the company and SEBI officials participated in illegal activities such as insider trading and market manipulation, causing harm to investors. It was found that Madhabi Puri Buch and five other key officials were involved in this scam.

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Involvement of SEBI Officials in the Scam According to the FIR, the case involves former SEBI Chief Madhabi Puri Buch, along with Ashwani Bhatia, Anant Narayanji, Kamlesh Chandra Varshini, BSE Chairman Pramod Agarwal, and BSE CEO Sundararaman Ramamurthi. They are accused of market manipulation and violations of laws related to market disruptions.