Madhabi Puri Buch becomes Sebi's first woman chief
New Delhi, Feb 28: Sebi's first woman chief Madhabi Puri Buch has held a number of top positions in the private sector, including at ICICI Bank, and was also among the corporate leaders who were holed up in a Mumbai hotel on the fateful night of November 26 in 2008 when terror struck the country's financial capital.
Buch, who is around 56 years old, will be at the helm of the capital markets watchdog initially for a period of three years.
After her five-year term as a Whole Time Member of Sebi ended in October 2021, she was named as the head of the regulator's secondary market committee in December the same year. The panel advises Sebi on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency.
During her tenure at Sebi, she had also handled a host of portfolios and was part of many committees. She headed the advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy.
Buch has worked with the private sector for two decades, including with ICICI Group for over 17 years, and was part of ICICI Bank, ICICI Securities, ICICI Web Trade Ltd and ICICI HFC Ltd.
And she was among the corporate leaders who were holed up in a Mumbai hotel during the terror attack in November 2008. Buch, who was then Executive Director at ICICI Bank, was at the hotel along with her husband Dhaval Buch, then a director at Hindustan Unilever Ltd, as the FMCG giant's top management team was huddled in a board meeting there.
An alumna of IIM Ahmedabad, Buch will be the first woman to head the Securities and Exchange Board of India (Sebi).
She served at ICICI Bank for 12 years in different positions and was the Executive Director during 2006-2009 period. She was the Head of Marketing and Sales for five years from 1997 to 2002, and was the Head of Product Development from 2002 to 2003.
Later, she was the Head of Operations from 2004 to 2006. Also, Buch served as the Head of Brand Marketing from 1997 to 2009.
In 2009, Buch became the Chief Executive Officer of ICICI Securities and headed the firm for two years till 2011.
Later, she was the Head of Business Development at Greater Pacific Capital, Singapore from 2011 to 2013, and a Non-Executive Director at Idea Cellular from 2011 to 2017.
Besides, she has held non-executive director roles in several organisations, including Max Healthcare, Zansar Technologies, Innoven Capital, and Gabelhorn Investments.
She replaces Ajay Tyagi whose five-year tenure ends on Monday.
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UDF leaders see local body poll trends as pointer to 2026 Assembly elections in Kerala
Thiruvananthapuram (PTI): Buoyed by the strong performance of the Congress-led UDF in the local body polls, KPCC president Sunny Joseph said on Saturday that the front's results indicated the people had rejected the LDF government.
According to early trends, the UDF was leading in more grama panchayats, block panchayats, municipalities and corporations than the LDF.
The local body polls were held in two phases in the state earlier this week.
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Speaking to reporters here, Joseph said the people of Kerala had extended their support to the UDF.
"We could expose the LDF government’s anti-people stance and the people understood it. The LDF’s fake propaganda was rejected by the people. The UDF is moving towards a historic victory," he said.
He said a united effort, proper preparations, good candidate selection and hard work had resulted in the Congress and the UDF’s victory in the elections.
Asked about the prospects in the Thiruvananthapuram Corporation, Joseph said the party was studying the matter and would comment later.
LDF convenor T P Ramakrishnan said the results would be closely examined.
According to him, the government had done everything possible for the people.
"Why such a verdict happened will be examined at the micro level. People’s opinion will be considered and further steps will be taken," he said.
He added that decisions would be taken after analysing the results. "If any corrective measures are required, we will initiate them and move forward," he said.
AICC leader K C Venugopal said the results showed that people had begun ousting those who, he alleged, were responsible for the loss of gold at Lord Ayyappa’s temple.
"This trend will continue in the Assembly elections as well. It is an indication that the people are ready to bring down the LDF government," he said.
Venugopal said the UDF had registered victories even in CPI(M) and LDF strongholds.
"I congratulate all UDF workers for their hard work. Congress workers and leaders worked unitedly," he said.
Referring to remarks made by Chief Minister Pinarayi Vijayan against the Congress on polling day, Venugopal said the voters had responded through the verdict.
"I do not know whether the chief minister understands that the people are against him. Otherwise, he does not know the sentiment of the people. The state government cannot move an inch further," he said.
He said the results indicated a strong comeback for the UDF in Kerala.
Asked whether the Sabarimala gold loss issue had affected the LDF in the local polls, Venugopal said the CM and the CPI(M) state secretary did not take the issue seriously.
"We took a strong stand on the matter. The BJP played a foul game in it," he alleged.
On the BJP's role in the local body elections, Venugopal alleged that the party operated with the CPI(M) 's tacit support.
"The CPI(M) supported the central government on issues such as PM-SHRI, labour codes and corruption in national highway construction. The CPI(M) is facing ideological decline, and the state government’s policies are against the party’s own decisions," he said.
Meanwhile, LDF ally Kerala Congress (M) leader Jose K Mani said the party could not win all the wards it had expected in the elections.
He congratulated winners from all parties and said the party would closely examine the losses and identify shortcomings. "Later, we will take corrective measures," he added.
Senior Congress leader and MP Rajmohan Unnithan said the trends in the local body elections indicated that the UDF would return to power in the 2026 Assembly elections.
"We will win 111 seats as in 1977 and return to power in 2026. The anti-government sentiment of the people is reflected in the elections," he said.
Unnithan said the people were disturbed and unhappy with the present government.
"The trend indicates the end of the LDF government," he added.
CPI(M) MLA M M Mani said the people had shown ingratitude towards the LDF despite benefiting from welfare schemes.
"After receiving all welfare schemes and living comfortably, people voted against us due to some temporary sentiments. Is that not ingratitude," he asked.
Mani said no such welfare initiatives had taken place in Kerala earlier.
"People are receiving pensions and have enough to eat. Even after getting all this, they voted against us. This is what can be called ingratitude," he said.
Muslim League state president Panakkad Sayyid Sadiq Ali Shihab Thangal said the results were beyond expectations.
"The outcome points towards the Secretariat in Thiruvananthapuram, indicating that a change of government is imminent. We are going to win the Assembly election," he said.
