Who is Madhabi Puri Buch – SEBI Chairperson?

Madhabi Puri Buch is a very well known name in India, when we talk about high level financial executive and she became the first woman to be appointed as Chairperson of Securities and Exchange Board of India (SEBI).

The trailblazing chairperson of the Securities and Exchange Board of India (SEBI) — Madhabi Puri Buch was caught in a controversy after being accused by Hindenburg Research.

SEBI Chief Caught In Hindenburg Adani Report

Sebi chairperson Madhabi Puri Buch and her husband Dhaval Buch denied all the allegations made by Hindenburg, countering that their finances are already in public domain.

Hindenburg Research, a US-based firm alleged on Saturday that Sebi chairperson Madhabi Puri Buch and her husband Dhaval U. Bushed held stakes in offshore entities involved in the Adani money siphoning scam

Madhabi and Dhaval Buch opened an account with Singapore-based IPE Plus Fund 1 on June 5, 2015 according to whistleblower documents and other investigations by Hindenburg. A statement by a principal at IIFL claimed that it was “salary” where the investment came from and pegged their net worth to be around $ 10 million.

Who is Madhabi Puri Buch?

Madhabi Puri Buch took charge as the first-woman chairperson of markets regulator Securities and Exchange Board of India (Sebi) on March 1, 2022.

Madhabi, a former whole-time member (WTM) of Sebi was appointed as the new chairperson superseding Ajay Tyagi whose five year term ended. A native of Ivri in Kashmir, the 1978 batch IIM-Ahmedabad alumnus was the youngest Sebi chief and first from private sector to head it.

She is directly responsible for regulation, surveillance and supervision of Market Infrastructure Institutions & FPIs in addition to overseeing economic & policy analysis investor education departments and information technology. The chief has direct control over the National Institute of Securities Markets (NISM).

Ms. Sinha is the founder director of Agora Advisory Pvt Ltd, a consultancy and incubation firm where she has been working for over 3 years; She previously served at New Development Bank located in China before appointed as Sebi’s chairperson;

Buch has a 30-year experience in the financial market. In a career spanning nearly three decades, she also worked as an investment banker with ICICI Bank (1989-995), headed the top broking outfit of the country United Western Group and held senior positions in private equity major Bessemer Venture Partners.

Who is Dhaval Buch? SEBI chief’s Husband

Education and career

Madhabi Puri Buch, an MBA besides a Bachelors in Mathematics from St. Stephen’s College also is the alumnus of Indian Institute of Management (IIM) Ahmedabad.

Consultant, New Development Bank (Shanghai), Former Head of Singapore Office and Partner at the Private Equity Firm: Greater Pacific Capital. She has also served as the Managing Director (MD) and Chief Executive Officer(CEO) of ICICI Securities Limited and was an executive director on Board, ICICI bank.

She also has a small foundation which works with grassroot NGOs. Buch has additionally sat on the Boards of various organizations as a non-administrative chief. Puri Buch was associated with Tyagi during her stint as WTM from April 5, 2017 to October 4,getQuerygenerated atSo let me just tell you that…2021.

She has held several important portfolios in her capacity as WTM of Sebi, starting with surveillance followed by mutual funds and collective investment schemes.

Professional Career

Madhabi Puri Buch has had a career for over 30 years in the financial services and corporate sectors.

1. ICICI Bank

Madhabi Puri Buch began her career with ICICI Bank, a leading Indian private sector bank. Highlights of her career include serving in various senior roles during that time, including as Executive Director.

She headed retail banking for ICICI and was part of several “first-time” or first-generation initiatives that were the bedrock on which it built itself.

2. Greater Pacific Capital

Post her stint at ICICI Bank, she moved to Singapore and worked with Greater Pacific Capital, an international private equity firm She was also a Managing Director at DEG, responsible for investment teams & activities throughout South East Asia.

3. SEBI

Buch was no stranger to SEBI before he became the Chairperson — between 2017 and Aug. She was in charge of key functions as head, regulation of market intermediaries and investment management besides being internal ombudsman & officer on special duty to chairman.

A WTM, she was well versed with the way SEBI works having served in it for so long and had moved through many rungs of hierarchy to be ready for this position.

Personal Life

Madhabi Puri Buch is wed to Dhaval Buch, an experienced corporate suit who has spent decades at Unilever. The duo keeps it low-key, as Madhabi is busy with professional work.

Hindenburg Research on Sebi chief

Hindenburg noted in its apparent hit piece, “A funds declaration signed by an IIFL principal says the investment comes from ‘salary’ and that the couple has a (net worth of Rs 83 crore ($10 million).”

“Between the inception of thousands of legitimate, domestic mutual fund products from reputable onshore Indian houses that she currently presides over as chairperson at Sebi and her new role in regulatory oversight, documents lay out a web that weaves or involves assets ballooned across multi-layered offshore structures with almost negligible funds based within well-known high-risk jurisdictions controlled via a firm reportedly connected to Wirecard scandal and it’s housed right inside the same entity headed by an Adani group director who has significantly availed such services utilized until now also by Vinod Adani for allegations involving diversion of cash internally through floating entities,” alleges Cobrapost.

FAQs

• What are the important moves introduced by Madhabi Puri Buch as SEBI Chairperson?

Under her, Madhabi Puri Buch implemented various key measures like stricter insider trading rules and better disclosure requirements; drove fintech innovations in market regulation. She also advocated investor education and financial literacy for a more inclusive finance environment.

• Madhabi Puri Buch – SEBI Chairperson who led the financial market to transparency

Madhabi Puri Buch Prioritized Transparency By Announcing Stricter Disclosure Norms For Listed Companies & Supported The Use Of Technology To Ensure Better Monitoring In Market Operations. She had been instrumental in bringing greater accountability and transparency to the financial markets of India.

• What are the difficulties that Madhabi Puri Buch encountered as SEBI Chairperson?

Madhabi Puri Buch has had to contend with market freedom versus regulation since being appointed as a Private Equity regulator and negotiating the global economic challenges driven by the COVID-19 pandemic. The ambition has played a crucial role in these uncertain times, as the markets have turned volatile and investor confidence is at stake.

• In what way Madhabi Puri Buch – SEBI Chairperson has impacts on the global money system?

Led by Madhabi Puri Buch, the regulator has garnered international recognition and its reforms and innovations have been adopted as a model to be replicated in other emerging markets around the world. Her emphasis on rules-based regulation and transparency has done wonders for India’s reputation in global financial circles.

• What makes Madhabi Puri Buch a role model for students venturing into finance world?

Best practice Madhabi Puri Buch — For pioneering work in an industry marked by male dominance, promoting ethical leadership and cracking the glass ceiling. For young and army leaders alike, her story is an inspiration in the financial services industry particularly amongst women.

• The vision of Madhabi Puri Buch for India’s Financial Markets?

Madhabi Puri Buch dream for a vibrant, clean and technology driven Market in India She is dedicated to driving fintech innovations, improving market infrastructure and developing a regulatory framework that supports sustainable growth.