Lokpal’s Clean Chit to Ex-SEBI Chairperson Madhabi Puri Buch : Prevention of Corruption Act & Lokpal Explained
The Lokpal, India’s anti-corruption ombudsman, dismissed complaints against former SEBI Chairperson Madhabi Puri Buch, citing no verifiable evidence of impropriety or conflict of interest as alleged in a Hindenburg Research report. The complaints, invoking Sections 7 and 11 of the Prevention of Corruption Act, 1988, accused Buch of undue advantage and links to Adani Group funds. The Lokpal, established under the Lokpal and Lokayuktas Act, 2013, found the allegations speculative and politically motivated, lacking grounds for investigation. Buch, SEBI chief from 2022 to 2025, was cleared, reinforcing regulatory integrity.