New Delhi/IBNS: The parliamentary Public Accounts Committee (PAC), the parliamentary watchdog for government spending, will investigate allegations against Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and it is likely to summon her later this month, Economic Times reported, citing people in the know.
According to reports, the PAC, which is headed by Congress leader KC Venugopal and has members from both NDA and oppositions INDIA bloc, has added the matter to its agenda after several members demanded a probe at the panels first meeting on August 29.
The agenda item, however, does not specify the regulator or name the chief and is listed as Performance review of regulatory bodies established by act of parliament, as per the report.
Economic Times reported, citing unnamed officials, that the inquiry stems from the recent allegations against SEBI chief Madhabi Buch and the matter was added on suo moto basis in the August 29 meeting as many members were concerned about the serious allegations against the capital market regulator and the SEBI chief. The concerned ministry officials may be summoned this month.
The development comes as the SEBI chief has been accused of conflict of interest over the regulators probe into the Hindenburg Research allegations against the Gautam Adani-led Adani Group and SEBI employees made a written complaint to the Union Finance Ministry about a toxic work culture at the regulator.
Madhabi Puri Buch, however, denied any wrongdoing, while SEBI refuted claims made by the exployees, saying external elements were involved as the complaints of public humiliation at the workplace were misplaced, according to reports.
