Lagatar24 Desk
New Delhi: A scheduled meeting of Parliament’s Public Accounts Committee (PAC) was postponed on Thursday after Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch informed the committee she would not be able to attend due to “pressing reasons.” The last-minute notice sparked a postponement, with PAC Chairperson KC Venugopal confirming Buch’s absence hours before the meeting.
Venugopal explained that Buch had originally requested an exemption from attending, which the committee had denied. However, she later confirmed her participation. On Thursday morning, Buch informed the committee that she was unable to travel to Delhi, and considering her request, the committee postponed the meeting.
The PAC, led by Venugopal, is currently reviewing the performance of SEBI, particularly in light of allegations raised by US-based short-seller Hindenburg, which had criticized SEBI’s actions. The meeting was expected to review SEBI’s regulatory performance, a sensitive topic given the controversy surrounding Hindenburg’s allegations of conflict of interest against Buch.
Political Tensions Spark Criticism
Following the postponement, BJP MP Ravi Shankar Prasad criticized Venugopal for making what he called “unilateral decisions” and mentioned that several committee members, including those from the BJP and allies, planned to raise the issue with Lok Sabha Speaker Om Birla.
While there was no objection to the PAC’s review of regulatory bodies, Venugopal’s decision to summon Buch raised concerns among BJP members. Buch has been a central figure in the political controversy stemming from Hindenburg’s allegations, which the Congress party used to criticize the government.
BJP MP Nishikant Dubey, a member of the PAC, expressed his displeasure in a letter to the Lok Sabha Speaker. He accused Venugopal of using “non-existent” issues to tarnish the government’s image and destabilize India’s financial structure. Dubey also claimed that the allegations against Buch were part of a larger foreign campaign, fueled by opposition efforts to undermine the government.
