Agora Advisory, the Indian consulting firm set up by Madhabi Buch, was active between 2019 and 2024 and had made Rs 3.63 crore in revenue while she was a whole-time member at SEBI. https://thewire.in/political-economy/sebi-chiefs-firm-named-in-hindenburg-report-not-dormant-shares-address-with-auditor
SEBI chief Madhabi Buch claimed that both of her consulting firms flagged in the latest Hindenburg Research report went “dormant” immediately after her appointment at the market regulator. However, that is not the case, statutory documents have revealed. One of the consulting firms also shares its address with its statutory auditor, Scroll has reported. Two of Buch’s consulting firms – Agora Advisory, based in India, and Agora Consulting, based in Singapore – came into the limelight on August 10 when US-based short seller Hindenburg Research highlighted them as potential conflicts of interest with her role as SEBI chairperson.