“It has come to our notice that there are certain allegations regarding rent payment by Carroll Info Services Limited and its association with certain orders passed by SEBI in relation to the company. In this regard, we categorically deny these allegations and state that these allegations are completely baseless and misleading. The company has acted and continues to operate in compliance with all applicable laws,” the exchange filing said.
Congress leader Pawan Khera on Friday accused SEBI chief Madhabi Puri Buch of conflict of interest with a pharma company.
Khera accused Buch of corruption and insider trading in a press conference held on Friday. Khera alleged that Butch and her husband owned a property in Mumbai, which was leased out to a company called Carol Info Services Limited, which is part of Wockhardt Limited, which Sebi has implicated in several cases.
Khera suggested that this shows a clear conflict of interest and amounts to corruption.
Khera said in a press release, “The name of the company is Carroll Info Services Limited. It is a part of a company called Wockhardt Limited, they have the same promoters. Wockhardt is a company on which SEBI is continuously placing orders and processing its cases. ,” Khera said in a press release. Conference
Also Read: Carlyle Backed Hexaware Tech Raises Rs. 9,950 crore IPO files draft papers with SEBI
“Madhabi Puri Buch is the chairperson of the same body (SEBI) against which there are complaints against Wockhardt. There was also a case of insider trading, his body (SEBI) also deals with Wockhardt’s insider trading case. It is a conflict of interest. I call it I would say corruption, this is not just a conflict of interest, this is corruption,” Khera added.
The Congress has demanded an independent probe into the allegations and expressed concern that the situation could undermine foreign investor confidence in India’s financial system.
The Congress further hit out at Prime Minister Narendra Modi and Union Home Minister Amit Shah, saying that it was they who appointed Buch as the chairman of the organization. Khera questioned whether Modi had an understanding with Buch that their businesses would not be touched by the government or SEBI.
Further, Khera said that Congress is concerned about Indian stock markets and that millions of Indians trust the regulator.
Shares of Wockhardt Ltd fell 5% on the BSE on Friday to Rs. closed at 1,034.60.
(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
