Congress has accused SEBI Chairperson Madhabi Buch of receiving rental income from a company that is under investigation by the capital markets regulator for insider trading. Senior Congress leaders Jairam Ramesh and Pawan Khera raised concerns about the lack of transparency and integrity in the regulatory body, especially given the large number of Indian investors with investments in the market. This is a clear violation of SEBI's code on conflict of interest for board members.
SEBI Chairperson's Rental Income Raises Conflict of Interest Concerns
Background
The Securities and Exchange Board of India (SEBI) is the statutory regulator of the capital markets in India. Its Chairperson, Madhabi Buch, has recently come under fire for allegedly receiving rental income from a company that is under investigation by SEBI for insider trading.
Allegations
Senior Congress leaders Jairam Ramesh and Pawan Khera have accused Buch of receiving rental income from a company called Nirmal Lifestyle Reality Development. This company is currently under investigation by SEBI for alleged insider trading in the shares of Yes Bank.
Concerns Raised
The allegations have raised concerns about transparency and integrity in SEBI. Critics argue that it is inappropriate for the Chairperson of SEBI to have any financial dealings with companies that are under investigation by the regulator. They believe that this creates a potential conflict of interest.
SEBI's Response
SEBI has defended Buch's actions, stating that she has declared her rental income from Nirmal Lifestyle to the regulator and has recused herself from any matters related to the investigation into the company.
However, critics argue that this is not enough and that Buch should resign from her position to avoid any perception of impropriety.
Top 5 FAQs
1. What is SEBI? SEBI is the Securities and Exchange Board of India, the regulator of the capital markets in India.
2. What are the allegations against Madhabi Buch? Buch is accused of receiving rental income from a company under investigation by SEBI for insider trading.
3. What are the concerns about this? Critics argue that this creates a potential conflict of interest, as Buch is responsible for regulating the company in question.
4. How has SEBI responded? SEBI has defended Buch, stating that she has declared her rental income and recused herself from matters related to the investigation.
5. What is the current status of the situation? The allegations are still being investigated, and it is unclear what action will be taken.
In a press conference, Tirupati MLA Arani Srinivasulu showed his support for Jana Sena chief and Deputy CM Pawan Kalyan's recent declaration to protect Sanatana Dharma. He stated that the declaration has come at a crucial time when the religion is facing threats from various forces. Srinivasulu also mentioned the steps taken by the NDA government to revamp the TTD administration and the recent findings of adulterated ghee. He welcomed the Supreme Court's direction and urged everyone to support Pawan Kalyan's "Dharma Poratam".
In the upcoming Lok Sabha Elections 2024, Rampal, a 50-year-old farmer from Misrikh, Uttar Pradesh, is making his political debut as an independent candidate representing the IND party. With no cases against him and a clean educational and financial background, Rampal hopes to bring change and development to his constituency. His profession as an agriculturist will also give him insights into the challenges and needs of the rural community, making him a strong contender for the upcoming elections.
The massive protest in Pakistan's capital, led by PTI, entered its second day as party members remain determined to not end the demonstration until instructed by leader Imran Khan. Amid this, rumors of confusion surrounding the KP Chief Minister Ali Amin Gandapur's location have been circulating, with the CM reportedly leaving the protestors in Islamabad and moving to KP House. The PTI's political committee has called out the CM's disappearance and has stated that there will be consequences if he is arrested, with plans for a new leader to take charge in that case.
As Haryana prepares for Assembly elections, all eyes are on the potential candidates for the Chief Minister position. Bhupinder Singh Hooda, a two-time CM, has emerged as the leader of the opposition and the frontrunner for the position. With his experience and success in previous elections, many are looking to Hooda as the potential savior for Congress in Haryana.
As India gears up for the 2024 elections, Union Home Minister Amit Shah stands out for addressing the most political rallies after Prime Minister Narendra Modi. Meanwhile, with the focus on Swachh Bharat Mission Urban 2.0, the government has ramped up efforts for better solid waste management and behavior change campaigns. The 'Swachhata Hi seva Abhiyan 2024' serves as a reminder for the importance of cleanliness in urban areas, with local residents urged to visit the swachhatahiseva.com website for a list of designated spots. The state's efforts for regular campaigns and public participation highlight the commitment towards sustainable cleanliness.
BJP MP Janardan Singh Sigriwal expressed confidence in the party's victory in the Haryana Assembly elections, citing the support for PM Modi. However, Congress candidate Vinesh Phogat remains optimistic and believes that the "atmosphere is positive" for the party. As of 5 pm, the voter turnout stands at 61%, with the highest in Mewat and the lowest in Faridabad.
Controversial Islamic preacher Zakir Naik caused a stir at an event in Pakistan when he abruptly exited the stage, sparking accusations of disrespect towards the country. The event, organized by the Pakistan Sweet Home Foundation, was meant to honor young orphaned girls, but Naik left when they were called on stage for felicitation. The incident sparked outrage and has reignited debates around Naik and his beliefs, with many questioning his actions and implications for Pakistan's relationship with other countries.
Dera Sacha Sauda chief Gurmeet Ram Rahim Singh, currently serving a life sentence for rape and murder, has been granted parole for the fifth time before an election. With his followers claiming to have received instructions to vote en bloc, the dera chief's influence on voters in Punjab, Haryana, and Rajasthan cannot be ignored. This move comes after the dera dissolved its political wing last year and the Election Commission has banned the dera chief from indulging in any political activity. However, allegations of his influence on voters have been raised in the past as well, making this parole decision a contentious one.
In an inaugural address at the Hindu Spiritual and Seva Mela in Jaipur, Vice President Jagdeep Dhankhar spoke out against the dangerous rise of religious conversions in India. He criticized a "sugar-coated philosophy" used to target vulnerable sections of society, and pointed to a larger conspiracy behind the organized conversions. Without naming anyone, Dhankhar expressed concern over certain individuals aligning with forces detrimental to the nation's interests. He urged for vigilance and swift action against those attempting to fragment India.
Former Haryana Chief Minister and Union Minister Manohar Lal Khattar expresses confidence in the BJP's prospects in the Haryana Assembly elections, citing the significant voter turnout as a strong indicator of public support. He urges voters to exercise their right to vote and dismisses claims of opposition parties, emphasizing the importance of trusting the democratic process. Khattar also clarifies that Nayab Singh Saini would take over as Chief Minister if the BJP wins, continuing the party's leadership transition.