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Congress alleged on September 6, 2024, that Madhabi Puri Buch received ₹2.16 crore in rent from Carol Info Services Limited between 2018 and 2024, and described the company as affiliated with Wockhardt. Wockhardt denied the allegations, while Buch and her husband said she had no role in Wockhardt investigations or approvals. The available reporting does not establish the allegation as a final official finding.
What Congress alleged about the rental income
Congress spokesperson Pawan Khera said Buch received a total of ₹2.16 crore from Carol Info Services Limited over 2018–2024, while she served first as a whole-time member of the Securities and Exchange Board of India (SEBI) and later as its chairperson. Congress described Carol Info as affiliated with Wockhardt Limited and said SEBI had investigated Wockhardt, including for insider trading in 2023. Congress characterized the rental arrangement as a conflict of interest. Moneycontrol reported the allegation and its stated amount; The Indian Express also reported the claim.
The amount, Carol Info’s stated relationship to Wockhardt, and the alleged regulatory connection are Congress’s claims—not established findings in the sources reviewed here. The reports do not establish that Buch was involved in a Wockhardt investigation or that the rental arrangement influenced SEBI decisions.
How Wockhardt and the Buchs responded
Wockhardt’s denial
In a September 6, 2024 regulatory filing, Wockhardt rejected the allegations. As quoted by Moneycontrol, the company said: “In this regard, we categorically deny these allegations and state that these allegations are completely baseless and misleading.” The company also said it continued to comply with applicable laws. Moneycontrol reported Wockhardt’s filing.
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The Buchs’ explanation
In a joint statement reported on September 13, 2024, Buch and her husband, Dhaval Buch, said she had no involvement in investigations or approvals concerning Wockhardt. They said SEBI’s delegation-of-powers system was relevant to how decisions were handled, and that Buch disclosed the property and income when she joined SEBI in 2017. They also said the rental income was declared and taxes were paid. These are the couple’s statements, not independently established findings in the sources reviewed. India Today reproduced the joint statement, which said: “We are upright and honest professionals and have led our respective professional lives with transparency and dignity, earning an unblemished record.”
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the SEBI order on Wockhardt does—and does not—show
A SEBI adjudication order available in the reviewed material concerns trades in Wockhardt shares in 1999 by company CFO Rajiv Gandhi and relatives. It concluded that named noticees violated the insider-trading regulations applicable at the time and imposed penalties. The order records that separate historical case.
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That order involves different people and trades from 1999. It does not verify Congress’s claim about a 2023 investigation, implicate Buch, or determine whether the rental relationship affected SEBI decisions. The sources reviewed do not resolve the scope or outcome of the alleged 2023 investigation, or establish a subsequent official finding about Buch’s rental relationship.
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What readers can conclude
- Congress made the rental-income and conflict-of-interest allegations on September 6, 2024; the reported figure was ₹2.16 crore over 2018–2024.
- Wockhardt denied the allegations. Buch and her husband said she had no role in Wockhardt investigations or approvals, and that the property and income were disclosed and the rent taxed.
- The historical SEBI order concerns separate 1999 trades by other individuals. It does not resolve the central claims about Buch or the alleged 2023 investigation.
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