SEBI chief Madhabi Puri did not appear in the PAC meeting of Parliament, BJP and Congress face to face

Parliament's Public Accounts Committee (PAC) meeting was adjourned today as SEBI chief Madhavi Puri Buch was not present. He cited 'urgent business' to committee chairman KC Venugopal and sought exemption from appearance today. The committee had summoned Madhavi Puri Buch for appearance for the second time today.

Venugopal said that Butch said that she would not be able to reach Delhi due to personal reasons. He said that in the first meeting of the committee, we had decided that the review of our regulatory institutions would be the first topic, so today we called the head of SEBI to review this institution.

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He said that first the SEBI chief was demanded to appear before the committee, which we refused. After this she confirmed that she would appear before the committee. At 9.30 am today, the SEBI chief and its other members were told that she could not travel to Delhi due to personal reasons. Venugopal said that it was decided to postpone today's meeting.

BJP alleged

NDA MPs complained to the Lok Sabha Speaker that KC Venugopal is trying to break the country's economy. A few days ago, Nishkant Dubey wrote a letter to the Speaker that PAC has no right to summon Madhavi Buch.

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BJP MP Ravi Shankar Prasad said that every standing committee examines the regulatory committee related to that department, but the PAC chairman took the decision on his own and called SEBI Chairman Madhavi Buch. According to information received from sources, CAG has not given any paragraph on SEBI in its report, due to which the entire investigation was unparliamentary and painful.

What's on the agenda of the meeting?

Oral evidence from representatives of the Finance Ministry and the Securities and Exchange Board of India (SEBI) was included on the agenda of the meeting, which was the decision of the committee to review the functioning of regulatory bodies established by Act of Parliament.

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Venugopal's decision to invite Buch to the ruling party irked Buch, as she had been at the center of a political controversy over the allegations against the American organization Hindenburg. However, the Committee did not oppose the decision to include on the agenda a review of the functioning of the regulatory bodies established by law.

The American short-seller company accused Buch of conflict of interest, after which Congress launched sharp attacks on Buch and the government. On October 5, PAC member Nishikant Dubey accused committee chairman Venugopal of raising meaningless questions to defame the central government and destabilize the country's economy and financial system.

Nishikant Dubey, in a letter to Lok Sabha Speaker Om Birla, accused Venugopal of misusing his position and participating in a “tool kit” to harm the country's economy.

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