New Delhi, Sep 6 (Language) Shares of Wockhardt Ltd fell 5 per cent on Friday and reached the lower circuit limit after Congress leveled fresh allegations of conflict of interest against the SEBI chief linked to the pharmaceutical company.
Making further allegations of conflict of interest against Sebi Chairperson Madhabi Buch, Congress on Friday claimed that she received rental income from an entity affiliated with a company which the capital markets regulator is probing for various matters including insider trading.
Congress media and publicity department head Pawan Khera said that between 2018 and 2024, Butch – as a full-time member and later chairman of the Securities and Exchange Board of India (SEBI) – was receiving rental income of Rs. 2.16 crore from “Carroll Info Services Limited”, a company affiliated with Wockhardt Limited.
Wockhardt Ltd is being investigated by SEBI for various matters including insider trading during 2023, he said at a press conference at the AICC headquarters in Delhi.
The stock fell 5 per cent to Rs 1,034.60 – its lower circuit limit – on the BSE.
On NSE, the company’s shares fell 5 per cent to hit a lower circuit of Rs 1,034.55.
Khera stressed that this is a clear case of corruption amounting to conflict of interest, which is in violation of Sections 4, 7 and 8 of the 2008 Code on Conflict of Interest of Board Members of SEBI.
Wockhardt shares decrease 5% amid conflict of interest allegations
