INSUBCONTINENT EXCLUSIVE:
The Congress had earlier in August staged a nation-wide protest over allegations by Hindenburg against Sebi chief Madhabi Puri Buch and her
husband Dhaval Buch, who have denied any wrongdoing | (Photo: PTI)2 min read Last Updated : Oct 05 2024 | 7:22 AM IST
The Public
Accounts Committee (PAC) of Parliament has decided to review the functioning of top regulatory authorities in the country and has called
heads of Sebi and TRAI for deposition on October 24.
Top officials of the Ministry of Finance, (Department of Economic Affairs) and
Ministry of Communications have also been asked to appear before the key parliamentary panel, with sources saying representatives of the
Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch and Telecom Regulatory Authority of India (TRAI) chairperson
parliamentary practice is that chiefs of institutions have to attend parliamentary panel briefings whenever summoned.
The meeting of the
key parliamentary panel comes amid a major row over allegations made by US research body Hindenburg against Sebi chairperson Madhabi Puri
Much and her husband Dhaval Buch over her alleged links with the Adani Group.
"Briefing by Audit followed by Oral evidence of the
representatives of Ministry of Finance (Department of Economic Affairs) and Securities and Exchange Board of India (Sebi) on the subject,
'Performance Review of Regulatory Bodies established by Act of Parliament'," the official agenda for the October 24 meeting of the PAC
said.
"Oral evidence of the representatives of the Ministry of Communications, Department of Telecommunications and Telecom Regulatory
Authority of India on the subject, 'Performance Review of Regulatory Bodies established by Act of Parliament'," it also said.
The Congress
had earlier in August staged a nation-wide protest over allegations by Hindenburg against Sebi chief Madhabi Puri Buch and her husband
Dhaval Buch, who have denied any wrongdoing.
The Congress also sought her resignation as Sebi chief.
Hindenburg in one of its reports
had alleged that the Buchs owned stakes in offshore entities linked to Adani Group's alleged financial irregularities
Hindenburg also said that 18 months after its "damning" report on Adani "Sebi has exhibited lack of interest in charges against
Adani".
The Adani Group and the Buch duo have denied the allegations.First Published: Oct 05 2024 | 7:22 AMIST
