New Delhi : The Congress today cornered and posed counter questions to the ICICI Bank on its clarification about providing financial benefits to the SEBI Chairperson Madhabi Puri Buch, saying it (the ICICI clarification) had exposed further layers in the entire plot.
Addressing media persons the party Spokesperson and Chairman of the Media and Publicity Department, Pawan Khera nailed the ICICI Bank claims that the financial benefits provided to Ms Buch were “retirement benefits” only. Rather than answering our questions, the ICICI reply has further raised plethora of questions, he added.
Giving details, Khera pointed out, Ms Buch retired from the ICICI Bank in the year 2013 and she was provided Rs 5.03 crores. He said, assuming this was her retirement due which was settled in 2014-15, how come that the pension started again in 2016-17 when Ms Buch became a full time member of the SEBI, while pointing out, she was not given anything by the bank in 2015-16.
Khera also referred to and asked as how come the ICICI Bank paid Ms Buch the pension which was more than double of her salary, describing it as a “miracle pension”. He pointed out, the average annual salary of Ms Buch was Rs 1.3 crore, while her average annual pension amounted to Rs 2.77 crore.
Khera hoped that the ICICI and Ms Buch will explain as why did her pension restart in 2017, which coincides with her becoming full time member of the SEBI.
The Congress spokesperson also cornered the ICICI Bank on the issue of providing ESOP benefit to Ms Buch even after eight years of her resigning from the bank. He quoted the ICICI declaration on the US SEC website, where it says that the ESOP option can be exercised within three months only in case of voluntary retirement. Why special concession was given to Ms Buch, he asked, while alleging that the ESOP benefit to Ms Buch was paid at the cost of other employees.
The Congress spokesperson also referred to the ICICI paying the TDS on ESOP for Ms Buch and asked why it should not be counted as her income. He asked whether it was not the violation of the Income Tax Act.
He said, Ms Buch should answer for herself otherwise the Congress will keep on raising such questions as this was just the tip of an iceberg.
Khera said, it was not only the Congress, which had raised the issue as a former BJP MP had also levelled similar allegations.
