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Accordingly, the press release issued on September 4 has been withdrawn.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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Abhishek Sharma's massive century guides SRH to 8-wicket win against PBKS
Hyderabad, Apr 12 (PTI): Opener Abhishek Sharma smashed a superb century and shared a 171-run partnership with Travis Head as Sunrisers Hyderabad made a mockery of the massive 245-run chase, registering an eight-wicket win against Punjab Kings here on Saturday.
SRH scored 247 for 2 with nine balls to spare.
Abhishek clobbered 141 off 55 deliveries studded with 14 fours and 10 big hits, while Head made 66 off 37 balls as the duo undid the good work done by Punjab Kings' captain Shreyas Iyer, who hit a 36-ball 82 after electing to bat first.
Abhishek also become the third-highest scorer in IPL history behind Chris Gayle (175 not out) and Brendon McCullum (158 not out).
Earlier, PBKS openers Priyansh Arya (36 off 13 balls) and Prabhsimran Singh (42 off 23) added 66 runs quickly before Iyer carried on the good work along with Nehal Wadhera (27).
Harshal Patel (4/42) emerged as the most successful SRH bowler, while Sri Lankan right-arm quick Eshan Malinga (2/45) took two wickets.
Brief Scores:
Punjab Kings: 245 for 6 in 20 overs (Shreyas Iyer 82, Marcus Stoinis 34 not out, Priyansh Arya 36, Prabhsimran Singh 42; Harshal Patel 4/42, Eshan Malinga 2/45).
Sunrisers Hyderabad: 247 for 2 in 18.3 overs (Travis Head 66, Abhishek Sharma 141, Heinrich Klaasen 21 not out).
