The ICICI Bank on Monday clarified that it didn't pay any salary and ESOPs (Employee Stock Ownership Plans) to Sebi Chairperson Madhabi Puri Buch. The clarification came hours after the Congress alleged that Buch received a total income of Rs 16.8 crore from ICICI since joining Sebi in 2017.
In a statement, ICICI Bank said, "ICICI Bank or its group companies have not paid any salary or granted any ESOPs to Ms Madhabi Puri Buch after her retirement, other than her retiral benefits."
"All the payments made to Ms Buch post her retirement had accrued to her during her employment phase with the ICICI Group. These payments comprise ESOPs and retiral benefits," the statement read.
Madhabi Buch, who started her career in 1989 with ICICI Bank, served as the CEO of ICICI Securities from February 2009 to May 2011. She joined the Sebi as a whole-time member from April 2017 before she assumed the role of Sebi Chairperson from March 2022.
