Wockhardt called the allegations “baseless and misleading.”
“We have come to the notice of certain allegations relating to payment of rent by Carol Info Services Limited and its connection with certain orders passed by SEBI in relation to the Company,” the company said in a statement to the exchanges on Friday evening.
“In this regard, we categorically deny these allegations and declare that they are completely unfounded and misleading,” the statement added.
The company stated that it has acted and continues to act in compliance with all applicable laws.
Congress leader Pawan Khera, addressing a press conference at the All India Congress Committee (AICC) headquarters in Delhi on Friday, accused Buch of corruption and insider trading. Khera alleged that Buch and her husband own a property in Mumbai, which was given on rent to a company called Carol Info Services Ltd, and is part of Wockhardt Ltd, a firm with which SEBI has been involved in multiple cases, including insider trading. “The company is called Carol Info Services Ltd. This is part of a company called Wockhardt Ltd, they have the same promoters. Wockhardt is a company that SEBI continuously gives orders to and deals with its cases,” Khera said at a press conference.
“Madhabi Puri Buch is the chairperson of the same organisation (SEBI) that has complaints against Wockhardt before it.
“There was also a case of insider trading, their organisation (SEBI) also dealt with the Wockhardt insider trading case. This is a conflict of interest, I would call it corruption. It is not just a conflict of interest, it is outright corruption,” Khera added.
Congress has demanded an independent investigation into the allegations, stressing that it is the responsibility of the national interest to safeguard the integrity of Indian securities markets.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.