Many allegations were leveled against market regulator SEBI chairperson Madhabi puri Buch in the recent Hindenburg Report. Madhabi puri Buch immediately clarified the matter and said that all these allegations were made with malice. After this, the matter remained cold for many days. Now the Public Accounts Committee (PAC) of parliament has sent summons to the SEBI chief. He will have to appear before the PAC on october 24.
Summons also sent to Department of Economic Affairs and Department of Revenue
Apart from Madhabi puri Buch, the Public Accounts Committee has also sent summons to the officials of Department of Economic Affairs and Department of Revenue. There are 22 MPs in the PAC. None of these should be a minister of the government. This committee audits the expenses and revenue of the government of India. PAC has 15 members from lok sabha and 7 from Rajya Sabha. This committee inspects government income and expenditure on the basis of CAG's audit report. Currently, PAC is headed by congress MP KC Venugopal. It includes MPs from the government and the opposition.
Allegations of collusion were made between adani Group, Madhabi puri Buch and Dhaval Buch
According to the Economic Times report, American short seller Hindenburg Research had made allegations of collusion between adani Group, Madhabi puri Buch and her husband Dhaval Buch. Hindenburg alleged that both of them have invested in offshore funds associated with the adani Group. This is the reason why SEBI did not take appropriate action against adani Group. adani Group also denied these allegations. On the other hand, Money Control has said in its report that PAC has also sent summons to TRAI officials.
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