SEBI Chief Madhabi Puri Buch Skips PAC Inquiry Amid Adani-Linked Allegations

A parliamentary panel inquiry into SEBI Chairperson Madhabi Puri Buch has been postponed after she informed the Public Accounts Committee (PAC) that she couldn’t attend due to “personal reasons.” 

SEBI officials are being questioned regarding the regulator’s performance following serious allegations from Hindenburg Research, a US-based firm. The meeting, scheduled for October 24, Thursday at 11 AM in Delhi, was adjourned.

Buch’s Exemption Request Denied

The PAC, which includes both ruling and opposition members, had denied SEBI chief Buch’s request to be excused from the meeting. The panel had planned to question Buch along with 3-4 senior SEBI officials. Despite SEBI’s inquiry about the necessity of her presence, the panel insisted on Buch’s attendance.

PAC Meeting Agenda

The PAC meeting was intended to gather oral testimony from officials from SEBI and the Finance Ministry as part of the committee’s “performance review of regulatory bodies established by an Act of Parliament. Testimony from the Ministry of Communications, Department of Telecommunications, and Telecom Regulatory Authority of India (TRAI) was also on the agenda.

Allegations Against SEBI Chief Buch

Over recent months, SEBI chief Madhabi Puri Buch has faced allegations from Hindenburg and the Congress party, claiming her involvement in offshore funds tied to the Adani Group and violations of the SEBI code of conduct. In a joint statement in September, Buch and her husband Dhaval Buch dismissed these allegations as “false, incorrect, malicious, and motivated.”

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