To call Sebi chief before PAC or not: Centre, Opposition trade barbs

Calling the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch before parliament's Public Accounts Committee (PAC) became bone of contention between the MPs of ruling and opposition side in the panel, sources said.

TMC Sougata Roy demanded that Buch should depose before the PAC to discuss the functioning of SEBI.

Roy made this demand at a meeting convened to take up the performance audit of Jal Jeevan Mission.


The TMC also wrote a letter to PAC Chairperson KC Venugopal requesting to call SEBI chairperson as it is matter of public interest, sources said.

BJP leader Nishikant Dubey, strongly objected to the demand saying it was against rules, the sources said.

Dubey also added that CAG principal auditor cannot audit 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 that 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. Hinderburg Researchhad first levelled allegations of conflict of interest against Buch, which the latter has denied.