Officials from the Securities and Exchange Board of India (SEBI) have brought to light concerns about a “toxic” work culture within the organization, seeking government intervention.
What Happened: SEBI officials have expressed their apprehensions about a “toxic” work environment to the government, reported Economic Times. The issue has added to the growing list of concerns for SEBI chief Madhabi Puri Buch.
In a letter to the Finance Ministry, SEBI employees complained that the SEBI leadership group under Buch have been using harsh and unprofessional language towards the employees.
In the report, ET said that shouting, scolding and public humiliation have become common in SEBI meetings. The employees further said in the letter that the leadership micromanages the employees and gives “unrealistic work targets with changing goalposts”.
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SEBI officials wrote to the Finance Ministry after the management did not hear their complaints, the report added.
The reported complaints may be the latest blow to Buch as she faces pressure over accusations of conflict of interest in SEBI’s investigation of the Adani Group after U.S. short-seller Hindenburg released a fresh report against the market regulator.
On Tuesday, Essel Group head Subhash Chandra accused the SEBI chief derailed Zee Entertainment’s merger with Sony India. On Monday, a Congress leader said Buch was drawing salary from ICICI Bank while serving as a full-time member of SEBI. The private lender refuted the claims.
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