The scheduled questioning of SEBI Chairperson Madhabi Puri Buch by the Parliamentary Public Accounts Committee (PAC) was adjourned after Buch informed the panel she would be unable to attend due to “personal exigencies.” Buch, along with 3-4 senior SEBI officials, was expected to appear before the committee to address serious concerns raised by US-based Hindenburg Research, which has been critical of SEBI’s performance and oversight.
The PAC meeting, set for Thursday morning in Delhi, was of high importance as both ruling and opposition members sought to scrutinize SEBI’s leadership under Buch. The agenda included a detailed review of oral evidence from the Ministry of Finance and SEBI, with a particular focus on the performance and accountability of regulatory bodies formed by Parliament, including SEBI. Buch’s absence raised concerns, as the PAC insisted on her presence to provide clarity on various regulatory lapses alleged by Hindenburg, particularly concerning SEBI’s handling of corporate governance and financial market oversight.
Despite prior communication between SEBI and the committee regarding Buch’s attendance, the PAC refused to proceed without her, underlining the significance of the issues at hand. The adjournment reflects the intense pressure on SEBI and its leadership to address the broader questions surrounding its regulatory efficiency and the accountability of its officials. A rescheduled meeting is expected, where Buch will be required to face the panel’s scrutiny.