SEBI Faces Criticism Over Lack of Transparency in Chairperson's Conflicts of Interest

The Securities and Exchange Board of India (SEBI) has informed that details regarding chairperson Madhabi Puri Buch's recusal due to potential conflicts of interest are not easily accessible, stating that compiling this information would significantly strain resources.

This was in response to an RTI request from activist Commodore Lokesh Batra (retd).

SEBI also declined to release Buch’s financial disclosures, citing privacy and safety concerns under the RTI Act.

The Central Public Information Officer (CPIO) noted that such information could infringe on her privacy and pose safety risks.

While SEBI has indicated that Buch has recused herself in relevant matters, allegations from Hindenburg Research suggest her connections to offshore funds related to the Adani group could impact SEBI's enforcement actions.

The Congress party criticized SEBI's refusal to disclose information, calling it a mockery of public accountability and expressing concern over Buch's potential conflicts of interest.