The Public Accounts Committee (PAC) of Parliament has opted to assess the operations of the country’s top regulatory authorities and has summoned the heads of SEBI and TRAI to testify on October 24. Senior officials from the Ministry of Finance (Department of Economic Affairs) and the Ministry of Communications have also been requested to appear before this key parliamentary panel. Sources indicate that Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), and Anil Kumar Lahoti, chairperson of the Telecom Regulatory Authority of India (TRAI), are expected to attend the hearing.
Sources indicate that an unwritten convention in parliamentary practice mandates that heads of institutions must attend parliamentary panel briefings when summoned.
This important meeting of the parliamentary panel comes amid significant controversy surrounding allegations made by the U.S. research firm Hindenburg against SEBI chairperson Madhabi Puri Buch and her husband, Dhaval Buch, concerning her purported connections to the Adani Group.
The official agenda for the PAC’s October 24 meeting states, “Briefing by Audit followed by oral evidence from representatives of the Ministry of Finance (Department of Economic Affairs) and the Securities and Exchange Board of India (SEBI) on the topic, ‘Performance Review of Regulatory Bodies Established by Act of Parliament.'”
“Oral evidence from representatives of the Ministry of Communications, Department of Telecommunications, and the Telecom Regulatory Authority of India will be presented on the topic, ‘Performance Review of Regulatory Bodies Established by Act of Parliament,'” the agenda also noted.
In August, the Congress party organized nationwide protests regarding allegations made by Hindenburg against SEBI chief Madhabi Puri Buch and her husband, Dhaval Buch, both of whom have denied any misconduct.
The Congress party has also called for her resignation as SEBI chief. In one of its reports, Hindenburg alleged that the Buchs held stakes in offshore entities connected to the Adani Group’s purported financial irregularities. Additionally, Hindenburg claimed that 18 months after its “damning” report on Adani, “SEBI has shown a lack of interest in the charges against Adani.”
Both the Adani Group and the Buchs have denied these allegations.
Source:The hindu
Read the latest and breaking Hindi news | English News on अब पाएं सबसे निष्पक्ष, विश्वसनीय और तेज खबरें, सिर्फ WWW.THEINSIGHTTODAY.COM पर।. Get live Hindi news about India and the World from politics, sports, bollywood, business, cities, lifestyle, astrology, spirituality, jobs and much more..Read Latest News on your Mobile app so Download Mobile app The Insight Today