Parl panel calls Sebi chief Buch on Oct 24 amid Adani-Hindenburg row | News on Markets

The Congress had earlier in August staged a nation-wide protest over allegations by Hindenburg against Sebi chief Madhabi Puri Buch and her husband Dhaval Buch, who have denied any wrongdoing | (Photo: PTI)

Sources said the unstated convention in parliamentary practice is that chiefs of institutions have to attend parliamentary panel briefings whenever summoned.

The meeting of the key parliamentary panel comes amid a major row over allegations made by US research body Hindenburg against Sebi chairperson Madhabi Puri Much and her husband Dhaval Buch over her alleged links with the Adani Group.

“Briefing by Audit followed by Oral evidence of the representatives of Ministry of Finance (Department of Economic Affairs) and Securities and Exchange Board of India (Sebi) on the subject, ‘Performance Review of Regulatory Bodies established by Act of Parliament’,” the official agenda for the October 24 meeting of the PAC said.

“Oral evidence of the representatives of the Ministry of Communications, Department of Telecommunications and Telecom Regulatory Authority of India on the subject, ‘Performance Review of Regulatory Bodies established by Act of Parliament’,” it also said.

The Congress had earlier in August staged a nation-wide protest over allegations by Hindenburg against Sebi chief Madhabi Puri Buch and her husband Dhaval Buch, who have denied any wrongdoing.

The Congress also sought her resignation as Sebi chief.

Hindenburg in one of its reports had alleged that the Buchs owned stakes in offshore entities linked to Adani Group’s alleged financial irregularities. Hindenburg also said that 18 months after its “damning” report on Adani “Sebi has exhibited lack of interest in charges against Adani”.

The Adani Group and the Buch duo have denied the allegations.

First Published: Oct 05 2024 | 7:22 AM IST