Hindenburg Research accused SEBI Chairperson Madhabi Puri Buch of not addressing important issues, alleging that her consultancy firm, Agora Advisory, provided services to major companies like Mahindra and Mahindra, ICICI Bank, Dr. Reddy's, and Pidilite while she held a key position at SEBI. The Congress party echoed these claims, stating that Buch had a 99% stake in Agora, which reportedly continued its services after Buch took up her SEBI role, contrary to her earlier statements. The Congress also accused Buch’s spouse, Dhaval Buch, of receiving income from Mahindra and Mahindra after his retirement, though the company denied these claims. Buch has not commented on these allegations.