Dr Reddy's Laboratories Issues Clarification on Allegations Involving Dhaval Buch and Madhabi Puri Buch
Clarification of Allegations
Dr Reddy's Laboratories (DRL) has issued an official clarification following allegations from the Indian National Congress that the company benefitted from its association with Dhaval Buch, the husband of SEBI chairperson Madhabi Puri Buch, through Agora Advisory Private Limited. The pharmaceutical company asserts that these allegations are baseless and malafide.
Details of Engagement
- Dhaval Buch's engagement occurred between October 2020 and April 2021.
- The total remuneration paid was Rs. 6,58,000, which is consistent with industry standards.
- The leadership coaching was aimed at facilitating significant role transitions within the company.
DRL highlighted that all operations are conducted in full compliance with applicable laws. Any notion that their treatment by SEBI was influenced by this association is incorrect.
Response from Other Companies
Other companies mentioned in the allegations, such as Mahindra & Mahindra and Pidilite, have also released statements denying any wrongdoing. Pidilite emphasized that they routinely engage with top professionals in their respective fields and have maintained adherence to SEBI regulations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.