Zee group patriarch Subhash Chandra on Monday levelled several allegations against Sebi chairperson Madhabi Puri-Buch and said he will stop co-operating with the capital markets regulator.

Sebi did not offer any comment immediately. However, a source familiar with the matter said that the allegations are malicious.

“All these allegations made by Mr Chandra are malicious. The facts would suggest otherwise,” the source said.

Chandra, chairman emeritus of Zee Entertainment, said he is exploring legal action against Buch as he is convinced the “Sebi chairperson is corrupt” and has asked other corporate houses to join his fight. He also alleged that Buch is “biased” against him and he has taken a decision “not to cooperate with Sebi any further”.

He also urged Zee to “stop co-operating with Sebi any further; since it is a biased investigation being carried out; with a pre-conceived mindset of the Sebi chairperson.”

Chandra said his issue with Buch also impacted the Zee-Sony merger.

“Yes, this was the main reason for the merger to set apart, and that is why I am questioning today that Sebi is supposed to protect the interest of minority shareholders, and she succeeded in pushing away Sony from getting merged with Zee,” he alleged.

PTI