SEBI chief Madhabi Buch skips Parliamentary panel's questioning, meeting postponed
A crucial Public Accounts Committee (PAC) meeting was adjourned today after Securities and Exchange Board of India (SEBI) Chairperson, Madhabi Puri Buch, unexpectedly skipped it. The reason for her absence was stated to be a "personal exigency." PAC Chairman K C Venugopal said the decision to adjourn was taken after SEBI communicated that Buch wouldn't be able to attend the scheduled discussion.
Buch had previously requested exemption from PAC appearance
Venugopal revealed that Buch had initially sought an exemption from appearing before the PAC, a request that was denied. Despite this initial hurdle, she confirmed her presence for the meeting. "But today morning, at 9:30 am, we got a communication from the SEBI chairperson and other members that because of a personal exigency, she is not able to travel to Delhi," Venugopal told reporters.
PAC meeting was to review SEBI's performance
The main agenda of the PAC meeting was to assess SEBI's performance, especially considering the allegations leveled against Buch by US-based Hindenburg Research. The committee had insisted on Buch's presence for the discussion. Opposition MPs were set to question SEBI over the allegations and look into cases where Buch had recused herself over alleged conflict of interest.
BJP MPs raise concerns over PAC's move to summon Buch
The PAC's decision to summon Buch has led to a row among ruling party members. Senior BJP MP Nishikant Dubey claimed the PAC's only job is limited to examining government accounts and CAG reports, not probing SEBI. After the meeting was deferred, another BJP MP Ravi Shankar Prasad accused Venugopal of unilateral decisions and termed his behavior "unparliamentary and politically motivated."
