Lokpal rejects all complaints against ex-Sebi chief Buch

Lokpal, the anti-corruption watchdog, has given a clean chit to former Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch and her husband, Dhaval Buch, in complaints that accused her of misconduct, impropriety and conflict of interest.

- Neeraj Chauhan

In a 116-page order, a six-member bench led by Lokpal chairperson justice AM Khanwilkar said there was no need for a formal probe since the accusations were based on presumptions and assumptions and were not supported by any verifiable material.

The three complaints were filed after US-based Hindenburg Research levelled allegations that the Sebi chief and her husband had investments in offshore funds which are linked to the Adani group of companies; Sebi was probing the complaints against the conglomerate. Among the three, one was filed by a Trinamool Congress member of parliament, Mahua Moitra.