Sebi withdraws press release on unprofessional work culture
New Delhi (PTI): Capital markets regulator Sebi on Monday withdrew its press release issued in September 4, which addressed claims of unprofessional work culture, stating that these concerns are "misplaced" and reaffirmed that employee-related issues will be managed internally.
The withdrawal came days after a protest by a large number of Sebi employees outside the regulator's headquarters on September 5, a day after the press release. They had demanded the withdrawal of the statement and the resignation of Sebi chief Madhabi Puri Buch.
In a statement on Monday, Sebi acknowledged the critical role its employees have played over the past thirty-six years in shaping the Indian securities market into one of the most dynamic and well-regulated markets globally.
Sebi said it addresses employee-related matters through appropriate internal mechanisms.
"Following constructive discussions with representatives of all grades of officers, Sebi and its employees have reaffirmed that such issues are strictly internal and will be managed in accordance with the organization's high standards of governance and within a time-bound framework," the regulator said.
Accordingly, the press release issued on September 4 has been withdrawn.
The decision to retract the press release came after employees strongly condemned the unauthorized dissemination of internal communications.
Sebi employees have reiterated their commitment to resolving concerns amicably through established internal channels, ensuring that such matters remain internal and managed within a time-bound framework.
"Employees have strongly condemned the unauthorized release of internal communication and have confirmed that all concerns shall be addressed amicably through established internal channels," the statement noted.
For Puri, protests and internal issues have come at a time when she is probably facing the most challenging times in her stint. The career banker-turned-regulator is battling speculations on whether a conflict of interest made her go slow on the probe against Adani Group and a raft of other allegations around it.
In what is unprecedented for any financial regulator, around 500 employees wrote to the Finance Ministry on August 6, against the top management, for what they called a "toxic" work environment, which includes instances of public humiliation and shouting down.
After the publishing of a media report about the letter, Sebi responded with a press release, which stated such claims are "misplaced", which seemed to have irked the employees.
The regulator stated that some "external elements" had instigated its employees into believing that they shouldn't be held to high standards of performance and accountability, though, it did not provide specific details.
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RJD surprise element in J’khand polls, party candidates leading in 5 of 6 assembly seats
Ranchi(PTI): The Rashtriya Janata Dal (RJD) has emerged as a surprise element in the Jharkhand assembly elections with its candidates leading in five of the six seats where the party is contesting, according to trends available on the Election Commission's website on Saturday.
RJD candidates in five assembly seats were leading over sitting BJP legislators.
In 2019, RJD had secured only the Chatra seat where its nominee Satyanand Bhokta won.
In Deoghar, RJD’s Suresh Paswan was leading by 19,581 votes over his nearest rival and BJP's sitting MLA Narayan Das after the third round of counting.
RJD’s Sanjay Prasad Yadav was ahead by 19,867 votes in Godda over BJP MLA Amit Kumar Mandal after the sixth round of counting.
In Koderma, RJD nominee Subhash Prasad Yadav, who was out on bail, was leading by a margin of 3,471 votes over BJP’s sitting legislator Neera Yadav.
Subhas Prasad Yadav, considered to be one of the close aides of RJD supremo Lalu Prasad, was recently granted bail by the Supreme Court in a money laundering case.
Party’s Naresh Prasad Singh was leading by 5,159 votes after the fourth round of counting over BJP’s Bishrampur MLA Ramchandra Chandravanshi.
RJD's Sanjay Kumar Singh Yadav was also leading from Hussainabad by 8,213 votes after the fourth round of counting over BJP MLA Kamlesh Kumar Singh.
Party’s candidate Rashmi Prakash, however, was trailing from Chatra by 3,776 votes.
Bhokta did not contest the elections this time, and his daughter-in-law Prakash was given a ticket.
