The finance ministry has denied a report that claimed that Centre has given a clean chit to Sebi chief Madhabi Puri Buch.
On Tuesday, India Today reported citing unidentified people that an investigation conducted by the government found nothing against Buch or her family.
"This is factually incorrect, there was no investigation," a finance ministry spokesperson said.
Earlier this month, Moneycontrol had reported that the search for the next chief of the capital markets regulator was underway and the formal process of inviting applications for the top spot will be initiated soon.
The report also said that extension of Buch’s tenure cannot be ruled out, while dismissing premature termination of her contract.
In the last few months, the Sebi chief has been facing a slew of allegations— initially from short-seller Hindenburg and later from the Congress party— regarding her investments in offshore funds linked to the Adani Group and code of conduct violations.
Moreover, a section of the market regulator’s employees accused Buch of creating a "toxic work environment". However, the matter has now been resolved.
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