A government-led probe into allegations against Madhabi Puri Buch, chairperson of capital markets regulator Securities and Exchange Board of India (SEBI), found nothing incriminating, according to a report by India Today.
The investigation cleared Madhabi Buch of the current allegations and concluded that she would complete her tenure which ends in February 2025.
The probe was conducted after serious allegations of conflict of interest and financial misconduct were levelled against the SEBI chief by US short-seller Hindenburg Research and the Congress party. She and her husband were alleged to have close connections with the Adani Group's investment companies in tax havens overseas.
The Congress had levelled serious charges of financial irregularities, including receiving payouts from her former employer, the ICICI group, while holding the position of an independent member of the Sebi several years after she had left the company.
(By arrangement with livemint.com)
