Sebi Chief Skips PAC Questioning Amid Probe Into Allegations
Parliamentary panel adjourns meeting as Sebi Chairperson cites “personal exigencies”
_20240910205222_original_image_10.webp)
The Public Accounts Committee (PAC) questioning of Sebi chairperson Madhabi Puri Buch was adjourned after she cited “personal exigencies” and informed the parliamentary panel that she would be unable to attend. The PAC, which is investigating the Securities and Exchange Board of India (Sebi), had called Buch and three to four senior SEBI officials for questioning on Thursday at 11 am in Delhi.
The Sebi team was expected to respond to a series of performance-related questions, prompted by allegations from US-based Hindenburg Research. Despite Sebi’s prior inquiry on whether Buch’s personal presence was essential, the panel insisted on her attendance.
The bipartisan panel, which includes both ruling and opposition members, is tasked with reviewing Sebi’s regulatory role. Members from the opposition had also expressed their intent to probe into allegations against Buch.
In recent months, Buch has faced significant scrutiny over alleged conflicts of interest, including accusations by Hindenburg and the Congress party concerning her reported investments in offshore funds linked to the Adani Group. Earlier in September, Buch and her husband Dhaval Buch publicly dismissed these allegations as “false, incorrect, malicious, and motivated.”
