The Public Accounts Committee (PAC) of Parliament has summoned Sebi chairperson Madhabi Puri Buch and TRAI chairperson Anil Kumar Lahoti to discuss the performance of key regulatory bodies in the country on October 24. Officials from the Ministry of Finance (Department of Economic Affairs) and the Ministry of Communications are also expected to attend.
This meeting comes in the wake of a significant controversy involving allegations made by the US research firm Hindenburg against Buch and her husband, Dhaval Buch, concerning alleged connections with the Adani Group. It is customary for heads of institutions to appear before parliamentary panels when called upon.
The agenda for the October 24 meeting includes briefings and oral evidence from representatives of the Ministry of Finance and Sebi regarding the performance review of regulatory bodies established by law, as well as input from the Ministry of Communications and TRAI.
In August, the Congress party organized nationwide protests over the allegations against the Buchs, demanding her resignation from Sebi. Hindenburg’s reports claimed the Buchs had stakes in offshore entities linked to alleged financial misconduct by the Adani Group and criticized Sebi for its perceived inaction following its earlier report on Adani. Both Madhabi Puri Buch and Dhaval Buch have denied any wrongdoing.
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