Madhabi Buch’s Journey as SEBI’s First Woman HeadMadhabi Buch’s Journey as SEBI’s First Woman Head

• Madhabi Buch, 56, became the first woman to head SEBI in March 2022.
• She was appointed as the first woman to head the securities markets regulator in February 2022.
• Buch is a veteran of the investment banking and financial services industry, having previously headed ICICI Securities as its MD &CEO.
• In January 2023, Hindenburg Research charged Buch of stock price manipulation and accounting fraud against the Adani Group of companies.
• The allegations led to a series of petitions in the country’s top court seeking judicial intervention.
• In March 2023, the Supreme Court ordered the formation of a committee to investigate possible regulatory failure in dealing with the allegations.
• In August, Hindenburg accused Buch of conflicts of interest for investing in a Mauritius-based offshore fund with links to the Adanis.
• The Buch couple issued two statements in response to the allegations, denying the baseless allegations and insinuations.
• The markets watchdog also issued an exhaustive statement emphasizing that relevant disclosures have been made by the Chairperson from time to time.
• SEBI has faced internal restiveness, with a group of officers questioning the mistrust and lack of respect shown towards employees.
• SEBI has taken several regulatory measures that a group of market players are strongly opposed to.
• An independent review is recommended to clear the air on everything related to the SEBI chief.