+
Sebi Chief Declines to Comment on Real Estate Investment Trusts
Real Estate

Sebi Chief Declines to Comment on Real Estate Investment Trusts

Madhabi Puri Buch, the Chief of the capital markets regulator Sebi, chose not to comment on Real Estate Investment Trusts (REITs). She expressed concern that any remarks on the topic might lead to accusations of a conflict of interest. This decision followed questions raised by US short-seller Hindenburg Research regarding a possible conflict involving Buch and Blackstone, a major private equity firm.

Buch?s husband, Dhaval Buch, is a senior advisor at Blackstone, a significant player in the REIT sector. Despite this, both Buchs have denied any allegations of conflict of interest. Additionally, Hindenburg Research claimed that recent amendments to REIT regulations by Sebi, dating back to 2014, were biased in favour of a particular financial conglomerate, an assertion that Sebi has refuted.

At a Confederation of Indian Industry (CII) event, Buch mentioned that any mention of REITs on her part could lead to accusations of conflict of interest. REITs, though relatively new to the Indian market, are popular globally for their attractive returns and capital growth.

REITs consist of a portfolio of commercial real estate assets, most of which are already leased out.

In a related development, the Congress party on Monday accused Buch of conflict of interest and urged Prime Minister Narendra Modi, who heads the appointments committee of the cabinet, to clarify her appointment. At a press conference, Congress alleged that since Buch assumed her role as Sebi chairperson in 2017, she has been receiving a salary from Sebi while also holding an office of profit at ICICI Bank, from which she continues to earn income. Sebi has yet to comment on these allegations.

Last week, Buch had noted a positive response to small and medium REITs (SM REITs), with industry players advocating for regulatory measures for these entities. Recently, Sebi introduced regulations for SM REITs designed to enhance investor interest in fractional ownership of real estate assets.

Madhabi Puri Buch, the Chief of the capital markets regulator Sebi, chose not to comment on Real Estate Investment Trusts (REITs). She expressed concern that any remarks on the topic might lead to accusations of a conflict of interest. This decision followed questions raised by US short-seller Hindenburg Research regarding a possible conflict involving Buch and Blackstone, a major private equity firm. Buch?s husband, Dhaval Buch, is a senior advisor at Blackstone, a significant player in the REIT sector. Despite this, both Buchs have denied any allegations of conflict of interest. Additionally, Hindenburg Research claimed that recent amendments to REIT regulations by Sebi, dating back to 2014, were biased in favour of a particular financial conglomerate, an assertion that Sebi has refuted. At a Confederation of Indian Industry (CII) event, Buch mentioned that any mention of REITs on her part could lead to accusations of conflict of interest. REITs, though relatively new to the Indian market, are popular globally for their attractive returns and capital growth. REITs consist of a portfolio of commercial real estate assets, most of which are already leased out. In a related development, the Congress party on Monday accused Buch of conflict of interest and urged Prime Minister Narendra Modi, who heads the appointments committee of the cabinet, to clarify her appointment. At a press conference, Congress alleged that since Buch assumed her role as Sebi chairperson in 2017, she has been receiving a salary from Sebi while also holding an office of profit at ICICI Bank, from which she continues to earn income. Sebi has yet to comment on these allegations. Last week, Buch had noted a positive response to small and medium REITs (SM REITs), with industry players advocating for regulatory measures for these entities. Recently, Sebi introduced regulations for SM REITs designed to enhance investor interest in fractional ownership of real estate assets.

Next Story
Infrastructure Energy

L&T to Build India’s Largest Green Hydrogen Plant for IOCL

The plant will be developed on a build-own-operate (BOO) model and will supply 10,000 tonnes of green hydrogen annually to IOCL for a period of 25 years. It will operate entirely on renewable energy, aligning with IOCL’s decarbonisation goals and India’s broader net-zero ambitions.Green hydrogen at the plant will be produced using high-pressure alkaline electrolysers manufactured at L&T Electrolysers Ltd’s facility in Hazira, Gujarat. This initiative further showcases L&T’s commitment to localised, self-reliant clean-tech solutions under the Aatmanirbhar Bharat mission.LTEG’s..

Next Story
Infrastructure Urban

Bansal Wire Q1 Profit Rises 24.6% to Rs 393 Mn

Bansal Wire Industries, India’s largest stainless steel wire manufacturer and second-largest steel wire maker by volume, reported a 24.6 per cent year-on-year rise in net profit to Rs 393 million for the quarter ended June 30, 2025 (Q1 FY26).During the quarter, revenue rose 14.9 per cent YoY to Rs 9,390 million, while EBITDA increased by 19.6 per cent YoY to Rs 745 million, reflecting the company's strong operational performance and focus on value-added segments.According to Pranav Bansal, MD & CEO of Bansal Wire Industries, the company has started FY26 on a strong note, building on the ..

Next Story
Infrastructure Urban

Lemon Tree Opens Keys Lite Hotel in Banswara, Rajasthan

Lemon Tree Hotels has launched its latest property, Keys Lite by Lemon Tree Hotels, Banswara, further expanding its footprint in Rajasthan. This marks the group’s 11th operational hotel in the state and continues its focus on providing quality stays in emerging travel destinations.The newly launched managed hotel features 54 well-appointed rooms, a multi-cuisine restaurant – Keys Café, a fitness centre, and spacious banquet and conference facilities, catering to both leisure and business travellers.Located in southern Rajasthan, Banswara is known as the “City of Hundred Islands” for t..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?