Madhabi Puri Buch (SEBI chairperson) : Wiki, Net Worth, Husband, Controversies
Madhabi Puri Buch is a trailblazing figure in the Indian financial sector, currently serving as the Chairperson of the Securities and Exchange Board of India (SEBI). She is notable for being the first woman to head SEBI, the youngest ever to hold the position, and the first person from the private sector to lead this regulatory body. Her appointment marked a significant shift in SEBI’s leadership, which has traditionally been dominated by individuals from the Indian Administrative Service (IAS).
Contents
Madhabi Puri Buch Wiki
| Personal Information | Details |
|---|---|
| Full Name | Madhabi Puri Buch |
| Born | 1966 (age 58) |
| Place of Birth | India |
| Nationality | Indian |
| Spouse | Dhaval Buch |
| Children | Son – Abhay |
| Alma Mater | St. Stephen’s College, Delhi; Indian Institute of Management (IIM), Ahmedabad |
| Occupation | Chairperson of the Securities and Exchange Board of India (SEBI) |
| Years Active | 1989–present |
| Known For | First woman to head SEBI; First person from the private sector to lead SEBI |
| Previous Roles | CEO of ICICI Securities, Executive Director at ICICI Bank, Consultant at New Development Bank |
| Notable Achievements | Implementation of T+0 settlement system, Enhanced mutual fund regulations, Crackdown on insider trading |
| Controversy | Accusations by Hindenburg Research in August 2024, which she and her husband denied |
| Awards and Recognitions | Not specified |
| Parents | Kamal Puri (Father) |
| Education | Fort Convent School, Mumbai; Convent of Jesus and Mary, Delhi; St. Stephen’s College, Delhi; IIM Ahmedabad |
Early Life and Education
Madhabi Puri Buch was born in 1966. She received her early education at Fort Convent School, Mumbai, and at Convent of Jesus and Mary, Delhi. She later graduated with a specialization in Mathematics from St. Stephen’s College, Delhi, and earned her MBA from the prestigious Indian Institute of Management (IIM) Ahmedabad.
Career Journey
Buch began her career in 1989 with ICICI Bank as a Project Finance Analyst. She quickly ascended the ranks, taking on various roles that showcased her versatility and leadership. Between 1993 and 1995, Buch worked as a lecturer at West Cheshire College in England. By 2006, she was appointed as an Executive Director at ICICI Bank, overseeing critical functions such as Marketing, Sales, Product Development, and Operations. She later served as the CEO of ICICI Securities, the investment banking and broking arm of the ICICI Group, from 2009 to 2011.
Her experience extends beyond the banking sector. Before joining SEBI, she was the Head of Business Development at Greater Pacific Capital in Singapore and a consultant for the New Development Bank in Shanghai. Buch has also held non-executive director positions in several companies, including Max Healthcare and Zensar Technologies.
Role at SEBI
Madhabi Puri Buch took charge as SEBI’s Chairperson on March 1, 2022, succeeding Ajay Tyagi. Prior to her appointment as chairperson, Buch served as a Whole Time Member of SEBI starting in April 2017, working closely with Tyagi and overseeing portfolios like collective investment schemes, surveillance, and investment management.
Buch’s tenure as SEBI Chairperson has been marked by a strong emphasis on technology and data-driven regulation. She has introduced several key reforms, including enhancing mutual fund regulations for greater transparency, implementing T+0 settlement systems, and improving cyber security measures. Her leadership comes at a time when SEBI is navigating challenges like stock market volatility and overseeing India’s largest-ever IPO by Life Insurance Corporation (LIC).
Net Worth
While specific details about Madhabi Puri Buch’s net worth are not publicly available but some reports say she has $10 million net worth, her extensive career in top executive roles across the banking and financial sectors suggests a significant financial standing. Her work with major financial institutions and her role at SEBI further add to her influence and stature in the industry.
Family Life: Daughter and Husband
Madhabi Puri Buch is married to Dhaval Buch, a former director at Unilever, a leading global FMCG multinational. The couple has a son named Abhay. Buch is known to value her family’s support, often crediting her husband and son for being her pillars of strength throughout her career. Her husband, Dhaval, has been described as her friend, philosopher, and guide, playing a crucial role in her success.
Challenges and Controversies
In August 2024, Buch and her husband faced accusations from Hindenburg Research, a short-selling activist firm, which claimed they had stakes in offshore entities allegedly used to inflate shares of companies owned by the Adani Group. Both Buch and her husband denied these claims, asserting that all necessary disclosures had already been made to SEBI. They issued a detailed statement refuting the allegations and clarifying that the fund in question had not invested in any Adani securities.
Madhabi Puri Buch & Hindenburg Controvery
In August 2024, Madhabi Puri Buch and her husband, Dhaval Buch, were embroiled in a controversy after Hindenburg Research, a well-known short-selling activist firm, accused them of having a stake in dubious offshore entities. These entities were allegedly involved in artificially inflating the shares of companies owned by the Adani Group, a major Indian conglomerate.
Hindenburg Research claimed that these offshore entities, managed by IIFL Wealth, were used to manipulate the stock prices of Adani Group companies. The allegations brought significant media attention and scrutiny to Buch, especially given her position as the Chairperson of SEBI, the regulatory body responsible for overseeing the securities market in India.
Madhabi Puri Buch and her husband strongly denied these allegations, asserting that they had fully complied with all disclosure requirements over the years. They issued a statement clarifying that the funds in question had not invested in any Adani securities when they were involved and reiterated their transparency in dealings.
The controversy sparked debate and raised questions about the transparency and integrity of market practices in India. However, no definitive conclusions have been drawn, and the case remains a significant point of discussion in the Indian financial sector.
Conclusion
Madhabi Puri Buch’s rise to the top of SEBI is a testament to her expertise, determination, and forward-thinking approach. As she continues to lead SEBI, her decisions will likely have a lasting impact on the Indian financial markets and set new benchmarks for leadership in the regulatory space.
