The PAC has announced that it will examine the “review of the performance of regulatory bodies established by Act of Parliament” as a key focus for the 2024-25 session. This review will include an investigation into allegations against Book.
According to a report by Business Standard, the PAC is planning to question officials from the Finance and Corporate Affairs ministries in connection with this case. The report said Buch could be summoned to appear before the committee by the end of September.
The 22-member PAC includes 15 Lok Sabha MPs and seven Rajya Sabha MPs. The panel is headed by Congress MP KC Venugopal and includes Ravi Shankar Prasad, Nishikant Dubey, Anurag Thakur, Jagdambika Pal, Tejasvi Surya and Sudhanshu Trivedi of the Bharatiya Janata Party; TR Baalu and T Shiva of Dravida Munnetra Kazhagam; Shaktisinh Gohil, Amar Singh, Jai Parkash and CM Ramesh of Congress; Sarangi Aparajita; Ashok Chavan; and Trinamool Congress leaders Saugata Roy and Sukhendu Shekhar Ray.
He Congress The Congress has been demanding an independent inquiry into the matter. On September 2, the Congress had levelled allegations of conflict of interest against Buch and also asked Prime Minister Narendra Modi to tell the truth about his appointment as head of the cabinet’s appointments committee.
Congress had claimed that since Buch took SEBI In 2017, he took up the post, receiving a salary from SEBI and also held a profit position at ICICI Bank.
ICICI Bank clarified that it has not paid any salary or granted ESOP to Buch after his retirement on October 31, 2013.
Buch has come under fire after the Hindenburg report claimed that she and her husband had stakes in shadowy offshore funds used in the Adani money-smuggling scandal. Buch had denied the allegations levelled against them in the Hindenburg report as baseless and said their finances are an open book.
The Adani Group also called Hindenburg’s allegations malicious and manipulative of select public information, saying it has no business relationship with the SEBI chairperson or her husband.
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