Congress also questioned Buch's foreign holdings, particularly investments in Chinese and international funds, adding to concerns regarding transparency and accountability. Khera highlighted her alleged involvement with the Vanguard Total Stock Market ETF, ARK Innovation ETF, and various Chinese technology and consumer discretionary funds, suggesting potential risks related to national interest. He also raised queries about undisclosed foreign assets she held between 2017 and 2021, demanding clarity on whether the government was informed about these holdings.
Additionally, Khera accused Buch's consultancy firm, Agora Advisory, of accepting payments from Mahindra & Mahindra, potentially suggesting a conflict of interest involving her husband, Dhaval Buch, who received these payments separately. He questioned whether her role at SEBI intersected with these corporate dealings. However, the Congress party has not detailed the specific securities Buch allegedly traded, leaving certain aspects of the accusation ambiguous.
Responding to the allegations, Buch and her husband issued a detailed rebuttal through a joint statement, dismissing the charges as false, malicious, and politically motivated. In a six-page letter, the couple argued that these claims were being released gradually, suggesting a deliberate attempt to keep the controversy alive rather than seeking the truth. They emphasized that Buch had never dealt with any case files involving Mahindra & Mahindra, ICICI Group, or other corporations named in the accusations, such as Dr. Reddy’s, Sembcorp, and Visu Leasing.