ICICI refutes paying salary, ESOPs to SEBI cheif post retirement; BJP reacts saying, 'eggs on face'

Amidst a political controversy, Congress spokesperson Pawan Khera has accused Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch of receiving Rs 16.8 crore from ICICI Bank, leading to significant scrutiny and backlash. In response to these allegations, ICICI Bank has issued a statement clarifying that no salary or Employees Stock Ownership Plan (ESOP) payments were made to Buch after her retirement.

ICICI Bank clarified that any payments made to Buch were related to her tenure with the bank and included ESOPs and other retiral benefits that had accrued during her employment. The bank stated that Buch, who opted for superannuation effective October 31, 2013, received only her entitled retiral benefits post-retirement.

The controversy has intensified as the Congress-led opposition has raised new conflict-of-interest allegations against Buch. 

Reacting to this, Bharatiya Janata Party IT cell chief Amit Malviya on Tuesday slammed the Congress saying the grand old party “ends up with eggs on its face”.

The BJP leader's comment came as the ICICI Bank issued a statement denying Congress's charges.