TMC demands calling Sebi chief before PAC

New Delhi: Trinamul Congress leader Saugata Roy on Tuesday demanded calling SEBI chairperson Madhabi Puri Buch, who faced allegations of conflict of interest, before the Parliament’s Public Accounts Committee (PAC), sources said. At a meeting convened to take up the performance audit of Jal Jeevan Mission, Roy said Buch should depose before the panel.

BJP leader Nishikant Dubey, however, objected to the demand saying it was against rules, the sources said. Quoting Dubey in the meeting, the sources said, CAG principal auditor cannot audit Securities and Exchange Board of India (SEBI) without the mandate of the Central government, hence the PAC too cannot summon officials of regulators without evidence of ‘flaws’ in finances provided by the government.

Dubey is learnt to have said the PAC being the oldest parliamentary panel has its sets of defined rules and if a suo motu cognisance has to be taken, it has to be substantiated with evidence. Hindenburg Research, a US-based short-shelling firm, had first levelled allegations of conflict of interest against Buch, a charge which ignited a political controversy as the Congress seized on the report to target her and levelled fresh charges against her. She has categorically denied the allegations.