Dhaval Buch's Blackstone Role Precedes Wife Madhabi's SEBI Appointment, Sparks Conflict Concerns
Dhaval Buch's role at Blackstone predates his wife Madhabi Buch's SEBI appointment, sparking concerns of potential conflicts of interest in regulatory changes affecting the REIT sector.
Dhaval BuchMadhabi BuchSebiBlackstoneReitReal Estate NewsAug 11, 2024
Blackstone, a major player in India's REIT sector, saw regulatory changes during Madhabi Buch's tenure that allegedly favoured the firm. This includes the approval of Blackstone-sponsored REITs like Embassy, Mindspace, and Nexus Select Trust.
Dhaval Buch, Madhabi's husband, was appointed as Senior Advisor to Blackstone Private Equity in 2019, based on his extensive expertise in supply chain management. His role has been publicly known, and he has never been involved with Blackstone's real estate sector.
The report by Hindenburg Research highlighted that Dhaval Buch joined Blackstone as a Senior Advisor in July 2019, despite never having
Frequently Asked Questions
What is the role of Dhaval Buch at Blackstone?
Dhaval Buch is a Senior Advisor to Blackstone Private Equity, appointed in 2019 based on his expertise in supply chain management.
What is the concern about Madhabi Buch's connection to Blackstone?
The concern is that regulatory changes during Madhabi Buch's tenure as SEBI Chairperson may have favoured Blackstone, a firm her husband advises, creating a potential conflict of interest.
What is a REIT?
A real estate investment trust (REIT) is an investment vehicle that owns revenue-generating real estate or infrastructure assets.
What is Hindenburg Research?
Hindenburg Research is a US-based short-seller that has made allegations about potential conflicts of interest related to SEBI's regulatory changes affecting the REIT sector.
What is the significance of Blackstone's addition to Madhabi Buch's recusal list?
The addition of Blackstone to Madhabi Buch's recusal list is intended to avoid any potential conflicts of interest, given her husband's role at the firm.
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