What Delhi High Court said on Subramanian Swamy's allegations against SEBI Chairperson Madhabi Buch
The Delhi High Court recently said that even though former Union Minister Subramanian Swamy made allegations against Securities and Exchange Board of India (SEBI) Chief Madhabi Puri Buch in relation to the Axis-Max Life deal, she is not even a party in his public interest litigation (PIL). A Division Bench of Acting Chief Justice Manmohan and Justice Tushar Rao Gedela made the observation while disposing of Swamy’s plea alleging a scam of nearly ₹5,100 crore in the deal. Swamy had filed an affidavit in the Court on March 13, 2024 alleging that Buch was an additional director and director in Max Healthcare Institute Limited from February 4, 2015 to April 3, 2017, and it is because of this past association that the SEBI is not investigating the allegations with promptitude. However, the Court said that even though personal allegations had been made against Buch, Swamy had not amended his petition or made her a party to the PIL. "This Court is of the view that even if the Chairperso...