By Retaining ESOPs Whilst at Sebi, Buch Put Herself in a Position That is “Improper and Wrong”

By retaining ESOPs whilst at SEBI, Buch put herself in a position that is "improper and wrong": Managing Editor, Moneylife, Sucheta Dalal, to Karan Thapar for The Wire.
..........................................
In an interview where she raises serious and damaging concerns about the fact Madhabi Puri Buch, both as a whole time member and Chairperson of SEBI, retained ICICI Bank ESOPs, the Managing Editor of Moneylife, has said that as a result the Chairperson of SEBI put herself in a position that is “improper and wrong”. Sucheta Dalal said that on the basis of “the preponderance of probability” - criteria that SEBI itself uses - it’s likely that at SEBI Madhabi Buch would have both had access to unpublished price sensitive information and also would have taken decisions that affect ICICI, directly or indirectly, both of which in turn would have impacted the shares she had. Sucheta Dalal says this is “a big concern”.
In a 30-minute interview to Karan Thapar for The Wire, Sucheta Dalal also asked how is it that SEBI, “an institution with over three decades of experience”, does not have “robust mechanisms” amounting to detailed and stringent rules that apply to the investments, salary and ESOPs of people who work in and, particularly, head a regulatory organization. She said the finger of responsibility and blame for this goes all the way up to the Appointments Committee which chooses the Chairperson of SEBI. In this instance, the Appointments Committee comprises the Prime Minister and the Home Minister.
Talking about the “toxic work culture” at SEBI, which has provoked protests by hundreds of its employees, Sucheta Dalal asked how come the Board of Directors of SEBI is silent and has not felt the need to speak about and address this issue. It’s silence is clearly a sign that its failing to do its job.
In the interview, Sucheta Dalal also spoke about questions raised by Pawan Khera of Congress regarding the retiral benefits - their amount and frequency - drawn by Madhabi Buch from ICICI Bank. She also spoke about the story published in Mint alleging that between 2011 and 2013 Madhabi Buch worked for Greater Pacific Capital whilst also working for ICICI Bank.
I will stop there. You must see the interview to find out further details about Sucheta Dalal’s views. She is India’s leading expert on money markets and you will learn an awful lot from the details of her answers as well as the richness of her analysis.
However, to help you, I will give you a list of the main questions asked. Here they are:
1) I want to focus this interview on the SEBI Chairperson Madhabi Puri Buch and her former employer ICICI Bank and then raise the question what lessons should SEBI learn from this. First, the Congress Party has asked how can Madhabi Buch’s retirement benefits be significantly more than her last drawn salary as an employee of ICICI Bank. Is that a legitimate question? And does it require an answer from ICICI?
“The average salary drawn … from 2007 up until 2013-14 … is 1.3 crore per annum. However, the so-called retiral benefit given by ICICI … from 2016-17 to 2020-21, averages … 2.77 crore per annum. How can a person’s retiral benefit be more than her salary as an employee?”
Pawan Khera.
2) Congress has also asked why the “retiral benefit” was not uniform in terms of its frequency and amount? In 2014-15 Madhabi Buch received over 5 crores. The next year she got nothing. But between 2016-17 and 2021 the retiral benefits resumed. Again is this a legitimate question? Does it require an answer from ICICI?
3) Perhaps the key question is to do with how long Madhabi Buch held on to her ESOPs. ICICI Bank’s ESOP policy, available on the US Securities Exchange Commission website, says an employee can exercise ESOPs within a maximum of three months after retirement but the Remunerations and Nominations Committee can extend this period up to 10 years from the date of vesting. Since Madhabi Buch held on to her ESOPs for around 8 years she clearly was given special permission to do so. Do we have a right to know on what grounds she was given this special permission?
4) Even more significant is the question what are the implications of the fact she held on to her ESOPs whilst she was a whole time member of SEBI and also Chairperson of SEBI? During this time would she have had access to unpublished price sensitive information or would she have taken decisions that affect ICICI, directly or indirectly, that would have impacted the shares she held? And is that a matter of concern?
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[@JoseKoshy]

G8 Interview Karan like always ! With Close to 1/3rd of Our Population investing in Capital Markets ( Through Shares/Mutual Fund/Pensions/ Insurance etc), this is Serious and must be looked into. We need Heads to Roll and the Government to be accountable to the Tax Payers & Investors at large. Is India such a Lawless Nation ? Regulators need to be above board and perceived to be so too ! ' The Old saying - Ceasers wife need to be above Suspicion '. Why is the Government not acting ? Where is the accountability ? Does Government only act Post an Upheaval like the Farmers Protest etc ?

[@srinivasrao369]

Government not acting to protect Adani and our PM We r a banana Republic

[@TROYELLIOT]

thats a tall claim that 1/3rd population, last i heard it was not even 5%, rest of comment i agree. please don't argue with me here, just google for more info about how many indians invest in share markets.

[@JoseKoshy]

@@TROYELLIOT I agree with you on Direct Investment ie. 12 Cr. Demat Accounts, Am taking the Indirect Investment ie. Provident Fund, Pension Schemes, Insurance etc..This makes it 1/3rd Household.

[@techtravels401]

GOVE WOULD ACT ONLY IF SEBI CHIEF WAS A MIUSLIM, IF WAS A MUSLIM SHE WOULD HAVE BEEN ALREADY IN JAIL FOR EQUITY MARKET TERRORISM

[@vishaalbhatnagar3924]

Very insightful discussion. Lots of clarity on the root cause of the problem, the politics and lobbying, and the solutions.

[@MotivateMindssett]

I just want to say to the wire that do not give up, time will come when whole nation will watch the news from the wire. Pls keep going. Pls never back down. Jai hind.

[@UBSINGH-pd7fp]

100% agree

[@reecosmicatomsb8576]

By that time The Wire, the serial liar will tire 😂😂😂😂😂

[@is1this2a3thing4]

@@reecosmicatomsb8576 You might lose your IT cell job. Find an alternate option bro.

[@kurshymaster3408]

​@@reecosmicatomsb8576just bcos the view is different from yours doesn't mean it's a LIE 😂😂 ... Yours is a lie to us !!

[@rajuiyer6753]

Brilliant interview with a person sucheta dalal who brings such clarity on the issues.

[@sushantabehuria1563]

@@rajuiyer6753 dalal mam thik the ,lekine unka words sap marjaye lathi na tu te Bala tha ,she should be brave to answer the questions 🙏🏻🙏🏻🙏🏻🙏🏻

[@truth7653]

A very learned/wise/honest lady Sucheta Dalal like Karan and a few reporters does not hesitate to say what is true. Doval’s son is also involved with a bit of digging into Jayshankar’s son and other politicians children will be found to be in the loop. God save the ordinary people of India who are being cheated.

[@Danube-nu5vl]

Way of the rulers. That's why so much craze to become IAS. To join the ruling class. (I know she's lateral entry).

[@kurshymaster3408]

Jaishankar's son Dhruva runs the ORF in the US and receives heavy funding from Gates foundation and George Soros foundation 😂😂 while his father does acting for us with his bhaashan against Soros 😜🤣 ALL EYEWASH !!

[@ajaychandak]

When she joined SEBI she had ESOPs of ICICI Bank with price around 270. In her tenure price of this share increased to above 1000 when she sold. She was in power to benefit such company. Clear case of misuse of power.

[@satishsharma9307]

A clear hint towards the allegation of 'Insider trading'.

[@saredmi4231]

Allegations of "misuse of power" needs to be substantiated with evidence to make it stick and punitive action. Has she/SEBI misused their position to unduly favour ICICI ?

[@TROYELLIOT]

@@saredmi4231 sebi doesn't ask proof of companies and investors for such misuse of insider trading, look at all their orders. They should follow their own rules. do not hold shares of companies you oversee in the market.

[@krishnaramachandran7722]

She didn't have a magic wand to increase ICICI's price sitting in SEBI . I think she had access to some information as SEBI chairman that may have helped her timing. She should have liquidated the shares and invested in govt securities or Mutual funds as Suchita Dalal says in the video. That should be a pre-requisite for people in positions of power at SEBI.

[@ShahidAli-vx4nl]

Brilliant interview!!! She was precise and clear.

[@Sanehdeepchopra]

It is good to have brilliant people like Karan Thapar and Sucheta Dalal involved in such a important topic. Ms Dalal is only confirming that politicians and bureaucracy continues to take the country for a ride since independence. We need very well educated and well informed persons at the very top. Hats off to Sucheta Dalal.

[@siddhartha5875]

kesrilaal in tihr

[@NirajPant2]

Excellent! Thanks, Mr Karan Thapar and Ms Sucheta Dalal for an informative interview which has been eye-opening and very informative for the lay people! Whether the BJP or Congress Govt, it is the IAS lobby and those posted in the Ministry of Finance were able to dictate terms to the Govt and ensure that the rules and regulations that the SEBI applies to the Corporate Sector and the Intermediaries don't get applied to them! The Ministry of Finance and the Board of Directors of SEBI, which has members from the Ministry of Finance, its Secretary and RBI, one of its Dy-Governors, have been looking at the sky while the SEBI has been going through the turmoil. Thanks, again!

[@TROYELLIOT]

congress made all the correct rules, even the RTI act was created by congress which bjp used against congress to remove them from power. Congress never planned to appoint private sector in such places. IAS are currently always scrutinised and not allowed to have dual roles in pvt companies so this accusation is false. BJP has removed and changed rules to accomodate Adani and pvt section favourites to become rich while indian public becomes poorer and they are dependent on rations and then praise bjp for 5kg of rice and vote them to keep them poor.

[@prakashtarai2026]

Very nicely and precisely explained by Ms. Sucheta Dalal.

[@sushantabehuria1563]

@@prakashtarai2026 sucheta should be straight

[@satishsharma9307]

When you hear Sucheta Dalal, who is so clear about nitty gritty of SEBI & financial/stock markets and above all a very simple way to dissect the issu0in lay man language as well as a person like Karan Thapar, who too can grasp all these finer lines and cross question; its a sheer delight to watch the interview.🎉🎉

[@sushantabehuria1563]

@@satishsharma9307 the word nitty gritty ka chungul me 2014 fasa he desh ,koi to aye jo a words ko discionarry se mita ye 😭😭😭😭😭

[@srinivasrao369]

Finance Minister is completely silent even though SEBI reports to the FM

[@UBSINGH-pd7fp]

She is busy making pickles I guess.

[@TROYELLIOT]

she will get into trouble if she opens her mouth. Its BJP policy keep quiet when they have done wrong, so news if any reported (through the godi filter) will die after time, and indian public have only 3 hr memory. When someone wins a medal or if they implement a congress policy (which they renamed) and it gives good results then trumpet everyday using tax payer and adani money through godi media so the foolish section of followers and indian public starts praising them.

[@sushantabehuria1563]

@@srinivasrao369 finance minister piyaz sambar me nehi khata ,uska husband khata he😃😃😃😃😃😃😃

[@muthuranganathan6051]

Madam Sucheta Dalal is remarkable neutral voice - hope she keeps us enlightened this way

[@JK-834]

Very fantastic interview 💐💐

[@PankajMishra-qj8hx]

Great .... real journalism

[@shrikantmahajan3750]

What are other members of sebi board doing. They are all alike ministers of different ministries who remain silent never abandon posts never resign never utter anything never show any repentance never own responsibility, all are /is under duo's rule. Any enquiry under JPC or PAC must include sucheta ji for help and clarity on this financial and money matter. She deserves to be heading institution like sebi. Also it is the high time for supreme court to take cognizence of the workings of Sebi and election commission of india immediately.

[@kurshymaster3408]

Protecting their seats and benefits 😎

[@AltAJAX]

Buch-er of Retailers and Intian Stock Market.

[@somorendrooinam6526]

Madhabi Puri buch should be sent to jail

[@umeshsidhaye1396]

Yes. she should be... The problem is she won't be the only one to be sent to jail.... That's why she won't be sent to jail..

[@pntiwari4937]

Why? Has she taken away your cow?

[@arundrozario8624]

What nonsense....dnt u think. Then take her home...​@@pntiwari4937

[@harism5589]

@@pntiwari4937 Yes, not just my cow, yours too. Anybody puts money in stock or mutual funds, part of your money is gone into these crooks' pockets.

[@reecosmicatomsb8576]

Go try..😂😂😂

[@vincentpinto1127]

Kochar and Buch: Birds of a feather flock together. Naturally, someone behind the scenes allows this.

[@shalinivaz2783]

It's very obvious who. Power of the people behind-the-scenes can make anything happen as per their whims and fancies.

[@vikramsinghv1]

Kamath ji

[@sushantabehuria1563]

@@vincentpinto1127 😃😃😃😃😃😃you are absolutely right, constraint of profession 😃😃😃😃, roti ka sabal he😃😃😃😃

[@BubblesPothowari]

Its like ENRON boss wife who sold of millions of share just days before the crash.

[@agnescraig2912]

But justice caught up with them in the end. Never so in India ordinary cases of murders take minimum of 20 years even at SC level.

[@dr.sureshjk5097]

I thought non-vested ESOPs expire on demitting office. But I guess such rules don't apply to people who make such rules!!

[@vargheseb8602]

@@dr.sureshjk5097 Is that the rule?

[@vk7875]

@@vargheseb8602 Non vested you lose, vested you have to exercise and buy stock while paying taxes. Congis lose credibility by not properly conveying the issue and calling it salary.

[@agnescraig2912]

As was explained normally 5 years but ICICI has been changing its rules constantly so it could have been an extended time line.

[@sushantabehuria1563]

@@dr.sureshjk5097 desh me kaha rule he ,rule differ accordingly😭😭😭😭😭😭😭

[@alokchemicals]

Hi Karan and Sucheta. Thanks for this insightful episode. A major flaw in the government system is that the employees can never rate their boss or are even allowed to give a feedback. This is why many government organizations have toxic work culture. Theses rules NEED to change asap and 360 needs to be implemented where appraisal is done both ways. Question needs to be asked why 360 is not put in place by GOI.

[@manojsaxena4164]

Expert and informed question and answers.

[@umeshsawatkar8104]

Thanks to Karan Thapar & Sucheta Dalal to aware the froud of SEBI chief Madhavi Booch has done her job unconstitutional without protocol, INDIA Allaence must take up the issues seriously & save common people share holders who are invited their hard money in share market around,

[@ajaychandak]

ESOPs are practically shares. How can SEBI member hold shares of any company which is regulated by them.

[@123xyzabccba]

MPB in fact acted like an INSIDER TRADER for her cronies …..had this happened in any civilised country she wld hv been in jail by now …..

[@anoopbhakoo5353]

High time BJP woke up & removed her till enquiry is conducted?!

[@sushantabehuria1563]

@@anoopbhakoo5353 bicharo ka cirtificate nehi he😃😃😃😃😃

[@drarundawle3049]

Why Supreme Court is silent? Why not taking Suo Moto cognisance in this matter? It should order a CBI investigation monitored by Supreme Court of India.

[@sujanbhattacharya4918]

Hi I live outside India, in this part of the world even before joining organisations like PwcKPMG you need to disclose all the holdings you and your family has and where they are auditor need to either liquidate or put in special holding. These are just audit firms not regulator.

[@reecosmicatomsb8576]

Be there. In west bengal you can do money laundering..😂😂

[@shantanusapru]

Excellent expert & excellent interview!!

[@nikhilmehta4934]

Insightful interview, entire SEBI board is responsible for this act. The board shbe replaced and chairman should be sacked like she takes action against other offenders.

[@nikhilmehta4934]

Legal case also should be against her

[@vishaalbhatnagar3924]

Caeser's wife must be above suspicion in every circumstance.

[@vargheseb8602]

Good to see Sucheta Madam on Karan Thapar show. Now get Madhabi Buch Madam too.

[@antarshakti3093]

Kaheka madam ? Jholar bol.

[@vargheseb8602]

@@antarshakti3093 Hai, magar hame toh dono baju sunna hai aur phir samajna hai. Nahi toh Drug de do wale jaise trial jaise ho jayega.

[@84KtnM]

u might see her intervie on repub....🤫

[@sushantabehuria1563]

@@vargheseb8602 nehi ayega ,feku ek bar ake Pani Piya he😃😃😃😃😃😃

[@84KtnM]

1.Ignorantia juris non excusat 2.ICICI has no proper internal governance laws..kochars now this 3. most importantly SUCHETA MAAM is a National Asset

[@swatibhansali3148]

Superb analysis

[@mytube20oneone]

No rules apply for big people. They can loot...

[@MotivateMindssett]

Suchita dalal you are a superhero. Keep it up. Thank you

[@soyebganja8632]

Thank you sir ji ❤

[@ravirao4205]

Very insightful and intersting program by Karan who interviewed Ms. Dalal.

[@krishnanukala6369]

Dear Karan, Nothing is going to happen to her or Adani as long as the current govt. is in power. This govt. is wearing you and your brethren down.

[@pntiwari4937]

Congress will also be not be able to do anything if things are proper and fit. Abusing PM Industrial Leaders and investing 2/4 Cr in MF schemes . The schemes invest in companies owned by Industry leaders and doubling his money from 4 Cr to ,8 Cr and crying in public. It is double standard. Modi is good as I doubled my ,4 Cr to 8 Cr in 2/3 yr but Modi is Chor. Things not understood.

[@reecosmicatomsb8576]

​@@pntiwari4937say it openly. That MF investor is rahul gandhi..😂😂

[@ROSHNI6278]

It's SAD that the condition of our Indian Media has come down to this ..What Madhabi Puri Buch is doing is a STARK CASE OF violation & missuse of office & actually it's Blatant Corruption..10 years it's BJP government & here people are talking about CONGRESS ke time pe bhi . There should be an Enquiry on BuCh .. there is Nothing more scandalous & Blatant as This SeBi case.

[@shssolutions6011]

How innocent .... If you have the information why dont you file a PIL in court .... 🤣

[@sujithkumar2041]

@@shssolutions6011How sad things have become. Grave allegations about a public institution that too a regulatory body and its chief. Any common citizen should be concerned about such allegation which could even affect him directly. In Amrut kal instead of protecting the interests of citizens by the gvt the dare is to file a PIL? Then what’s there the gvt is for?

[@reecosmicatomsb8576]

File PIL in sc 😂😂😂

[@reecosmicatomsb8576]

​@@sujithkumar2041 File petition in SC. The Constitution gives you all rights. Don't cry & blame.

[@stanbaite466]

If your backup are powerful, why fear the law in india 😅😅😅 5:53

[@reecosmicatomsb8576]

This woman bailed out Corrupt Bears & MNC banks by targeting Harshad Mehta. Let her try & do that with madhavi puri buch.

[@shajishaji6375]

There's something fishy and requires investigation. But the question is who will investigate.

[@madhupaliwal9889]

How greedy a person can be ! At the end of the day - we all hv to go KHALI HAATH and our body is also left behind .

[@AnnaCgwale]

Very fine analysis, more important the way the questions were asked.

[@mathewsjacob927]

Karan please bring Madhabi on your show.. want to see if also drinks water like Modi😂

[@re-alm9731]

Ha ha

[@agarvipul]

A very cheap comment on drinking water. You must be aware that when camera is on, and question is asked, instead of silently sitting and thinking , which may look awkward, often person drinks water and buys time for giving appropriate answer. But some chapri says Modi is nervous. They lack maturity.

[@re-alm9731]

@@agarvipul was not nervousness written all over Modi' face. Drank water n rest is history.

[@agarvipul]

@@re-alm9731 Why anti Modi only thinks like that....pro Modi thinks modi has 56 incharge chest....Keep assuming...it's all wrong . Same set of people before election was shouting congress will come to power. They lack common sense

[@pigeonontheroof]

@@agarvipul Infact it is the opposite. I heard 400 paar, you are suffering from the same problem that you accusing others of; that is bootlicking and being a gobarbhakt.

[@RohiShetty]

Two masters - waiting to see how this unfolds. Soon this will be a TV serial...

[@AlgoTraderOnline]

Pathetic! Any other law abiding country and she would have been charged or in jail by now. If SEBI was listed, I would short it.

[@srinivasrao369]

Our Vishwaguru should take note

[@TROYELLIOT]

Its false that congress didn't raise raise questions on esops for that long period, also congress has no way to know apart from her IT returns what actually is happening, they just raised the questions, Its the duty of the Govt, SEBI staff, SEBI board, icici bank and reporters (who are current sitting in Godi (lap) of BJP to investigate further, CBI, ED and Income tax to investigate and show us they are independent and not just puppets. Whatever sucheta dalal said was already asked by congress watch their press conference again.

[@JuliusKachhap]

Not hitting at the heart of matter, Mohatarma Dalal!!! I.A. required to be submitted before Honble Supreme Court!!

[@UlfatSahil]

ESOPs are more dangerous than salary or pension itself, ESOPs valuation changes with prices, which is where she could be best player as well, she might be expecting price escalation, which makes case more dangerous, not just corruption, price escalation could be read manipulation. But issue isn't about salary or ESOPs but relationship with ICICI, while she has become guard or so called chowkidaar to control manipulation, fraud and all stock market crimes. But she is working like chowkidaar, almost similar to Modi, while Adani groups stealing and hijacking everything supposed to be owned by Indian public, not by Gujju duo and allies.

[@paulm.k.8740]

Mr Damodaran, perhaps, is the only person to have adorned the position of SEBI Chairman with distinction.

[@Danube-nu5vl]

Reliance power issue came out during his time.

[@123xyzabccba]

Also Mr Dave , who later became the Chairman of UTI the dominant institutional investor of the indian capital market ….

[@anirbanbhattacharya2874]

Good discussion!!

[@atultadvi7486]

IT IS A P.A.C WHO SHOULD BE ASKING QUESTIONS TO SEBI NOT THE CONGRESS PARTY.

[@teresavarghese1177]

They didn't. Should everyone remain silent?

[@shanthalakshmi2082]

Do you know who appoints the SEBI head and other direct appointments? An appointment committee. What constitutes an appointment committee? PM and Home minister Is there clear and robust rules for such appointments? Nooooo Do you clear norms and robust rules for appointment of a bureaucrat like an IAS ...? Yessssd What this explains? Direct appointments is to monopolise the power at the center. Just power centric. What this leads to? Absolute autocracy and sultanate!!😀😂

[@reecosmicatomsb8576]

😂😂😂😂 it's happening since 1947.. don't display your hate for Modi, shah

[@shanthalakshmi2082]

@@reecosmicatomsb8576 what is happening since 1947 my friend?

[@reecosmicatomsb8576]

@@shanthalakshmi2082 all institutions have been screwed. From the nationalisation of Air India, private banks, many big engineering companies including Modern Bread which is currently taken over by HLL . In the recent past under chidambaram FM in the congress regime, co- location scam by SEBI, NSE, Govt economist Ajay Shah, all were involved in scam of insider trading. Chiddu, fake gandhi parivar, communist & others made a neat ₹15000 crores profit. The case is languishing in SC which is busy passing timepass judgement, giving bail to Sar Tan Se Juda culprits, terrorists etc. So, cool your heels and take care of yourself and your family.

[@luismoniz2347]

Very interesting analysis and apolitical

[@saredmi4231]

Which unpublished price sensitive information is shared with SEBI ? SEBI should disclose with full details for public to assess else such suspicions will only grow📈 with time.

[@dr.nitibhushansinghchandel133]

"Conflict of interest" & " consent" are concepts which are alien to Indians by and large. Another one is " rule of law" which is gone for toss in this government

[@annaicharanam]

An excellent interview

[@soumyajeetchakrabarty6872]

This has been insightful

[@mikkey_willy]

Wow. Even I was wondering how someone can draw a salary from a private institution if I have retired. Thanks for the reveal.

[@JahidaKahtoon-v9g]

Very nice

[@SJ_7SQ]

11 lakh crore corporate loan written off So we ready for more taxes Crude price comedown but government sleeping

[@manav244]

ICICI itself said it included retiral benefits and ESOP then why Ms Dalal brush aside question regarding pension.

[@UBSINGH-pd7fp]

True.

[@Spread_only_love]

We have had eminent private sector people like Nandan Nilekini in Government role. There's no such allegations against him so far. May be we should discuss the good practices involving Mr .Nilekani , for improving SOPs across other Govt organizations involving lateral entries.

[@vickramcrishna5221]

@@Spread_only_love Seriously? "There are no allegations"? Naturally, because the organisation he headed absolved itself of any responsibility for the rules created (in violation of SC directions) by other organisations, even private companies, penalising individuals based on exclusion from the database, made up of numbers linked to tainted and unverified data. People starved to death, from the love he spread. And countless digital frauds leverage the careless handling of personal data that has been documented and publicised: but not yet judged illegal or criminal.

[@noelbaptist1345]

Awesome Interview. Loved it! So Informative!

[@marwinmenezes7758]

superb interview..

[@earthharish2]

Insinuations ! A heroic figure becoming a tool in the hands of vested interests!

[@rajeshrishi3594]

Very unique and interesting good choice of guest

[@shrestaassociates4063]

Mr karan this issue is rolling since last few months. ...no reaction from govt...what is the point....country is ruined

[@barababu1773]

Check for board members background. You will get answer

[@chubs41]

I've always maintained that in our country, it is not tax collection but lack of accountability in spending of taxpayers' money that has led our country to the state it's in. This is a prime example of lack of accountability to the shareholding public wherein Ms. Buch was allowed to declare her assets internally to someone within SEBI while being it's chairperson at the very same time. Govt is busy putting systems in place to track the common man while politicians and high ranking IAS govt. officials remain unchecked. The best thing the govt. can do is create a national body for fiscal accountability of politicians and high ranking govt. officials across central and state agencies and this body should automatically make this information available to the public. The public needs to know just how much their representatives and civil servants are being paid to work and there should be discussions and debates in the media on the performance of these representatives.

[@MyCorduroy]

She acted with least regard to rules as she thought Modi's BJP is going to rule this country till the year 2100 and nobody would dare to question her conduct and actions..

[@abhijitchatterji7587]

Modi hai to mumkin hai. How this chap is still in office is beyond me.

[@anandpadhye2186]

India should open all files... Old contractors who got contracta from congress government, turned to media mafiya to pinmp jurnliest

[@gurdarshanbadhan9766]

Thanks

[@GeorgeOommen-p1y]

Very insightful

[@arulsamy9519]

Very Illustrative interview.

[@Dakshahathi]

But all the crores of rupees from Indian citizens will remain safely inside Modiji s jhola

[@ZohanRao-n9k]

Best analysis

[@shailaandar5057]

Good interview

[@swapnilshah8335]

Brilliant interaction

[@gammaadvisory]

The 2008 code of conduct document by SEBI for their staff is ambiguous and does not follow the 2003 principles by the global group of regulators IOSCO, which is more specific about conduct and conflict. There are one set of rules for regulated entities and another for itself. In summary: Who will regulate the regulator? Why is SEBI board and the Finance Ministry silent ?

[@indranidasgupta1511]

Bang on Sucheta!!!

[@mohitagarwal9746]

Great interview. Thumbs up from me

[@aish55ka]

Amazing work!

[@ragus1416]

When you have a very strong backup, you can bend any rules. Mr. Karan is beating around the bush. He knows that who are the culprits, but he is not pronouncing.

[@mittemari]

Insoder trading plain and simple

[@sanmbe]

The problem is she is not explaining when is the esops given. Also ESOps cannot be random and arbitrary. I think the interview is not clear Karan. The ESOP can be exercised any time but it’s not so simple as Sucheta seems to indicate.

[@mohammedishaq3101]

Long Live WIRE

[@vivekra]

Wherever these IIT IIM 'raiders' go, toxic work culture follows.

[@atuldhotre6217]

The toxic culture issue, the ESOP, Hindenberg report, the dual job all coming out at same time, what a coincidence!!!

[@North_Lights]

The private sector appointments are unacceptable on financial regulations posts. Even with rules in US, the private sector appointee regulator realize money not while they are in office but after they leave the government office for their work favoring the private business.

[@victorlandi4812]

Dalal madam' s clarification is more confusing one.

[@ramd4392]

💯✨💯✨

[@avinashdave7502]

SD should write books like SCAM 2, SCAM 3...ETC!

[@tusarkantasatapathy5835]

A king can do no wrong

[@dkchopra831]

All these incidents prove more than sufficient that our PM who is appointing person or without whose blessings such appointments are not possible, is great thief himself or a Sargana of such thieves

[@sunilpatil1533]

Karanji n Suchetaji respected person s