Congress alleges Madhabi Puri Buch of renting out property to Wockhardt's firm, Carol Info Services Ltd; calls it case of corruption

Congress spokesperson Pawan Khera today (Friday, September 9, 2024) alleged that Sebi chairperson Madhabi Puri Buch rented out a property to Carol Info Services Ltd, which is a Wockhardt's firm. He alleged that Sebi is continuously giving orders and dealing with its cases. 

In a press briefing, Khera said: "What I am going to tell you is a small part. This is the new Sebi chief Buch. In 2018, she became a full-time member of Sebi. After becoming a member, she rented out a property in 2018-19 (to Carol Info Services Ltd)."

Khera said that Buch got Rs 7 lakh as rent per year from the company. 

"In 2019-20, the rent was Rs 36 lakh, which increased to Rs 46 lakh this year."

Launching salvo at Buch, Khera said,"The question is which company Buch rented out; Carol Info Services Ltd Company."

Divulging information about Carol Info Services, Khera revealed that the firm is part of Wockhardt Ltd.

Khera alleged that Sebi is continuously giving orders and dealing with Wockhardt cases.

There was an insider trading case against the company, which Sebi was also dealing with.

Alleging that this a case of corruption, Khera said: "We want to know where you shared this information. And is it right that when you become a member, you rent out your property to a company whose cases you are handling.

"My question is whether this is legal? Is this ethical? Will you call it right?," said Khera targeting Buch.

Khera alleged that Buch has taken Rs 2.55 crore as rent from Wockhardt Ltd till now.

Wockhardt is a Mumbai-based mid-cap pharma company.