Protests Erupt At Sebi As Employees Demand Leadership Accountability

Amid growing tension within the Securities and Exchange Board of India (Sebi), around 400 employees staged a protest outside the regulatory body’s office, expressing their frustration and calling for leadership changes. The protest follows allegations of a toxic work environment under Sebi Chairperson Madhabi Puri Buch.

The unrest began after Sebi dismissed claims of workplace toxicity and public humiliation, suggesting that external influences might be encouraging employees to undermine the organisation’s credibility and its leadership.

Protesters demanded the withdrawal of Sebi's recent press release, which they believe contained false statements, and called for Buch's resignation.

Last month, Sebi officials submitted a formal complaint to the finance ministry, accusing the regulator’s leadership of creating a hostile work culture. In response, SEBI released a five-page statement addressing the claims, reiterating its commitment to employee growth and well-being, while avoiding speculation on the alleged external elements involved.

The ongoing dispute also involves employees seeking a 55 per cent increase in House Rent Allowance (HRA) over the amount set in 2023, which Sebi referenced as part of their efforts to support staff benefits.