SEBI Chief Madhabi Puri Buch Skips Parliamentary Questioning, Meeting Called Off

A key meeting set to question SEBI (Securities and Exchange Board of India) chairperson Madhabi Puri Buch was canceled after she informed the panel she wouldn’t be attending due to “personal reasons.” The meeting, which was supposed to take place in Delhi on Thursday morning, was adjourned, according to The Indian Express.

Why Was SEBI Being Questioned?
The Public Accounts Committee (PAC), made up of members from both the ruling and opposition parties, wanted to question Buch and other SEBI officials about how well the stock market regulator is doing its job. This comes after US-based Hindenburg Research made serious allegations that impacted the Indian stock market, especially related to the Adani Group. The panel was eager to grill Buch personally, but she skipped the session, despite not being granted an exemption.

What Was the Agenda?
The PAC meeting’s purpose was to review how well India’s regulatory bodies, like SEBI, are performing. The panel wanted to hear from both SEBI officials and the finance ministry about how they are handling regulatory responsibilities. There was also a focus on the Department of Telecommunications and the Telecom Regulatory Authority of India for a similar review.

What Are the Allegations Against Buch?
In recent months, Madhabi Puri Buch has faced allegations from Hindenburg Research and the opposition Congress party. The claims are related to her alleged investments in offshore funds linked to the Adani Group and potential violations of SEBI’s code of conduct. However, Buch and her husband, Dhaval Buch, have firmly denied all accusations, calling them “false, incorrect, malicious, and motivated” in a joint statement earlier this year.

Sources: Internet Sources & Twitter X 

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