The Public Accounts Committee (PAC) of Parliament is set to investigate allegations against Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch, according to reports from the Economic Times. Sources suggest that Buch may be summoned later this month for further questioning regarding the charges.During the PACs first meeting on August 29, several committee members called for an inquiry into Buchs conduct.The committee, chaired by Congress leader KC Venugopal, comprises members from both the ruling NDA and oppositions INDIA alliance. This prompted the addition of the matter to the PACs agenda for review. However, the agenda item does not explicitly mention SEBI or Buch by name, listing it instead as a “Performance review of regulatory bodies established by an Act of Parliament.”Unnamed officials quoted in the report suggest that the inquiry has been triggered by recent accusations against Buch, with concerns raised during the August 29 meeting. The matter was added on a suo moto basis as several members expressed serious concerns about the allegations surrounding the capital market regulator and its chief, one official stated. Ministry officials connected to the case may also be summoned later this month to provide further clarity.The controversy stems from accusations of conflict of interest in SEBIs investigation into Hindenburg Researchs claims against the Adani Group. Additionally, SEBI employees have lodged complaints with the finance ministry, citing a toxic work culture under Buchs leadership.However, Madhabi Puri Buch has denied any wrongdoing, and SEBI has firmly rejected the allegations. The regulatory body dismissed the accusations of public humiliation at the workplace, stating that the claims were misplaced and driven by external elements.
