Ganesh Kendale
NEW DELHI: Parliament’s Public Accounts Committee postponed a meeting on Thursday as Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch and other officials expressed inability to attend hours before its commencement.
PAC chairperson K C Venugopal said that Buch informed the panel in the morning that she will not be able to attend the meeting due to “some pressing reasons”.
The committee is currently reviewing the performance of Sebi, and Buch was asked to appear before the panel amidst allegations of conflict of interest raised by Hindenburg, a US-based short-seller.
Following the postponement of the PAC meeting, BJP MP Ravi Shankar Prasad criticised Venugopal for making unilateral decisions and said that several committee members, including those from the BJP and its allies, are approaching the Lok Sabha Speaker, Om Birla, to address Venugopal’s conduct.
The PAC’s decision to review the performance of regulatory bodies established by legislation did not face any objections.
However, Venugopal’s move to summon Buch raised concerns among BJP members, as she has been at the centre of a political controversy sparked by Hindenburg’s allegations.
The short-seller’s accusations against Buch were used by the Congress party to demand her removal and to criticise the government, adding political dimensions to the panel’s request for her appearance.
BJP MP Nishikant Dubey, a member of the PAC, wrote to the Lok Sabha Speaker, accusing Venugopal of raising “non-existent” issues to tarnish the central government’s reputation and “destabilise” the country’s financial structure and economy.
Dubey alleged that Venugopal’s actions are politically motivated, driven by the Congress party’s position in the opposition following the Lok Sabha elections. He claimed that unverified allegations by a foreign company like Hindenburg against Buch were part of a larger campaign, and that the ‘India Chapter’ of this toolkit has become active.
