Congress alleges ‘dangerous nexus’ between Adani Group, key regulators, BJP

“SEBI is the custodian of the interests of millions of families. But what is the protection against the custodian himself? Quis custodiet ipsos custodes (who will guard the custodians themselves)?” he added.

Ramesh asserted that the nation wants clear answers, not evasions and silence.

During his press conference, Khera summarized the conflict of interest allegations that Congress has leveled against Buch since September 2, including that she had leased her property to Carol Info Services Limited, a subsidiary of Wockhardt Limited, from 2018 to 2024.

Wockhardt has reportedly been investigated by SEBI for insider trading issues.

In fresh allegations, Khera alleged that Buch owns another flat in Mumbai and that she earned rental income in 2021-22 from the property rented out to a company called Green World Buildcon and Infra Private Limited.

“This company is owned by Mukul and Vipul Bansal. Mukul Bansal has an important background in Indiabulls Group and is part of the senior management and sits on the board of directors of several related companies,” Khera said.

Indiabulls Group, in which Mukul Bansal was involved, has faced several cases with SEBI between 2021 and 2022, involving multiple court orders and regulatory actions, he pointed out.

Besides SEBI actions, the company has also been involved in cases before other regulators and courts, and SEBI has provided affidavits in those cases, Khera said.

He said this was a violation of SEBI’s Code on Conflict of Interest for Members of the Board of Directors (2008).

Khera further alleged that Buch was an initial shareholder of Predible Health and continued to hold shares in it even after becoming a Whole Time Member of SEBI.