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Congress accuses SEBI chief Madhabi Puri Buch of corruption, says she received Rs 2.16 crore as rent from company under probe

Congress general secretary in-charge communications Jairam Ramesh said the question really had to be asked of Prime Minister Narendra Modi and no one else on how much more evidence was needed to show the collapse of transparency and integrity, as far as the capital markets regulator was concerned.

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The Congress on Friday accused Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch of corruption saying she received rental income of Rs 2.16 crore from an entity affiliated with a company that the capital markets regulator was investigating for various cases, including that of insider trading.

Addressing a press conference, the Congress’ media and publicity department head Pawan Khera said that between 2018 and 2024, Buch, as a whole-time member and later chairperson of the SEBI, had been receiving rental income amounting to Rs 2.16 crore from Carol Info Services Limited, a company affiliated to Wockhardt Limited.

Wockhardt Limited was being investigated by SEBI for various cases, including that of insider trading during 2023, Khera said at a press conference at the AICC headquarters in Delhi.

The Congress leader asserted that this was an outright case of corruption that invoked conflict of interest, violating sections 4, 7 and 8 of SEBI’s 2008 code on conflict of interests for members of its board.

Khera further informed that the SEBI chairperson was appointed on March 2, 2022, by the Appointments Committee of the Cabinet, which the Prime Minister heads. Was her appointment cleared on the condition that she could maintain her previous financial relationships, provided she acted in line with the wishes of the prime minister and his close associates, the Congress leader asked.

He pointed out that the previous SEBI chairpersons went to great lengths to avoid even the appearance of a conflict of interest, both in their roles at Sebi and in their earlier positions.

“For instance, M Damodaran sold his 50 SBI shares when he took over UTI in 2001, and CB Bhave recused himself from all matters involving the National Securities Depository Limited (NSDL), where he was formerly chairman. In contrast, Buch merely transferred her investments to her spouse, which raises concerns about credibility,” Khera said.

He asked why there was no effort to verify whether Buch would follow these established standards. “Or was this lack of scrutiny part of a mutually beneficial arrangement?” Khera asked.

“If the head of the regulatory body is compromised, then that head becomes pliable. Perhaps that was the objective,” the Congress leader said. Khera said he was challenging the SEBI chief to come out and deny the charges against her.

Congress general secretary in-charge communications Jairam Ramesh said the question really had to be asked of Prime Minister Narendra Modi and no one else on how much more evidence was needed to show the collapse of transparency and integrity, as far as the capital markets regulator was concerned.

“By the NSE’s data, there are now 10 crore Indians with unique PANs who have some form of investment in this market. Don’t they deserve better? Why does he not move? What is he afraid of?” Ramesh said in a post on X.

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Amit Shah praises Dharmendra Pradhan’s resignation, says Nation above post

Amit Shah hailed Dharmendra Pradhan’s resignation as Union Education Minister, saying BJP places the nation and students above any position while highlighting the government’s commitment to examination reforms.

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Amit Shah

Union Home Minister Amit Shah on Saturday praised Dharmendra Pradhan’s decision to step down as Union Education Minister, saying the move reflected the Bharatiya Janata Party’s commitment to placing the nation and students above any political position.

In a post on X, Shah said that for BJP workers, the country, its youth and students are more important than any office. He described Pradhan’s resignation as an example of the party’s guiding principle of prioritising national interest over personal ambition.

Shah highlights government’s focus on exam reforms

Amit Shah said the Narendra Modi-led government respects the sentiments of students and remains committed to strengthening the examination system following concerns over alleged paper leaks.

He said the Centre has introduced strict measures to ensure severe punishment for those involved in examination paper leaks and expressed confidence that these steps would deliver justice to students who cleared the National Eligibility-cum-Entrance Test (NEET).

Praises Pradhan’s work as Education Minister

Recalling Dharmendra Pradhan’s tenure, Shah highlighted several initiatives undertaken during his time in the Education Ministry. He credited Pradhan with helping implement the National Education Policy (NEP), expanding PM SHRI schools, promoting digital education, strengthening skill development and improving coordination between industry and academic institutions.

Shah also said Pradhan worked towards making examinations more inclusive and student-centric, adding that his tenure reflected his commitment to the vision of a developed India.

Resignation follows NEET controversy

Dharmendra Pradhan’s resignation comes amid nationwide protests over alleged irregularities in the NEET examination and growing demands for accountability.

The resignation has triggered political reactions across party lines. While opposition parties have described the development as a result of sustained student protests, BJP leaders have projected it as an example of accountability and commitment to national interest.

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Assam flood death toll rises to 66, over 6.5 lakh people still affected

Assam’s flood situation improved slightly on Saturday, but more than 6.54 lakh people remain affected in six districts. Four fresh deaths have pushed the state’s flood toll to 66.

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Assam floods

The flood situation in Assam showed marginal improvement on Saturday, though the disaster continued to impact more than 6.54 lakh people across six districts. Four more deaths were reported during the day, taking the total number of fatalities in this year’s floods to 66.

According to the Assam State Disaster Management Authority (ASDMA), three of the latest deaths were reported from Sivasagar district, while one person lost their life in Charaideo.

The number of affected people declined from over 7.05 lakh across nine districts on Friday to 6,54,800 across six districts on Saturday, indicating a gradual improvement in the overall situation.

Sivasagar remains the worst-hit district

Among the affected districts, Sivasagar continues to be the worst hit, with nearly 2.9 lakh people impacted by the floods. Charaideo follows with around 1.9 lakh affected residents, while more than 1.3 lakh people remain affected in Jorhat.

The other districts still facing flood-related challenges are Dibrugarh, Golaghat and Nagaon.

Relief operations continue across affected areas

The ASDMA said the state administration is operating 274 relief camps and aid distribution centres across the affected districts. Around 18,902 displaced people are currently taking shelter at these facilities.

The latest daily bulletin also stated that floodwaters have inundated 810 villages across the state, while 34,970.8 hectares of agricultural land have suffered damage.

Rivers flowing above danger level

The floods have also damaged embankments, roads, bridges and other public infrastructure in several areas.

Authorities said the Dikhou River in Sivasagar and the Dhansiri River at Numaligarh are flowing above the danger level, and officials continue to closely monitor the situation.

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UP Government forms new SIT led by 3 IPS officers to probe Ayodhya Ram Temple donation theft

The Uttar Pradesh government has formed a new SIT led by three IPS officers to investigate the alleged Ram Temple donation theft case in Ayodhya following Supreme Court directions.

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Ram Mandir

The Uttar Pradesh government has reconstituted a Special Investigation Team (SIT) headed by IG Kiran S, with DIG Somen Verma and SSP Dr Gaurav Grover as members, to investigate the alleged theft of donations meant for the Ram Temple in Ayodhya. 

The move comes after directions from the Supreme Court, which sought a reconstituted investigation team to ensure an independent and comprehensive probe into the allegations.

The newly formed SIT is expected to continue the investigation and submit a status report before the Supreme Court on July 27.

Senior IPS officers to lead the probe

According to the state government, the investigation will now be supervised by senior IPS officers.  The revamped SIT has been tasked with examining all aspects of the alleged embezzlement of temple donations and carrying the investigation forward.

The Supreme Court had observed that criminal investigations and technical examination of theft-related cases are more effectively handled by experienced police officers, leading to the reconstitution of the SIT under senior IPS leadership.

Probe to continue under court supervision

The case relates to the alleged embezzlement of offerings (chadhava) donated by devotees at the Shri Ram Janmabhoomi Temple in Ayodhya.

The Supreme Court is monitoring the investigation and will review the SIT’s status report at the next hearing.

Authorities are expected to continue examining evidence collected during the earlier stages of the investigation as the newly constituted SIT proceeds with the case.

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