Public Accounts Committee set to probe allegations against Sebi chairperson Madhabi Puri Buch; may summon her at month-end

The Parliamentary Public Accounts Committee (PAC) is set to look into allegations against Madhabi Puri Buch, chairperson of the Securities Exchange Board of India (Sebi).

The PAC has not called Buch for its September 10 meeting, nor any summon has been sent so far, but considering the allegations against her, the SEBI chief can be called in the last meeting of this month or in the next PAC meeting.  

At its first meeting on August 26, the matter related to Buch emerged on the PAC's agenda after many of its members demanded a probe into the functioning of the market regulator and allegations against the chairperson.

PAC members include the ruling National Democratic Alliance (NDA) as well as the opposition INDIA bloc.

Veteran Congress leader KC Venugopal heads the PAC. 

 Most of the members of the committee believe that the way Buch was first accused in the Hindenburg report, then the founder of a well-known media company in the country accused him and then the employees of SEBI have accused him of discrimination, it is the responsibility of the Public Accounts Committee to seek a response from the SEBI chief on this matter. 

The Sebi chairperson has been accused of conflict of interest over the regulator's probe into Hindenburg Research allegations against the Adani group.