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The meeting of Parliament's Public Accounts Committee on Thursday was postponed after Securities and Exchange Board of India chairperson Madhabi Puri Buch could not attend due to “personal exigencies”, according to The Wire. Buch was scheduled to face questioning regarding allegations of conflict of interest leveled against her in August, stemming from alleged financial misconduct by the Adani Group. This situation highlights the ongoing scrutiny surrounding the SEBI chief and her potential involvement in the Adani Group controversy.
The Public Accounts Committee, chaired by Congress leader KC Venugopal, intended to conduct a suo moto review of regulatory bodies, including SEBI. The committee had sent notices to individuals related to the allegations and denied Buch's request for exemption from appearing. Despite initially confirming her attendance, Buch informed the panel on the morning of the meeting that she was unable to travel to Delhi due to “personal exigencies.” The panel decided to postpone the meeting, acknowledging the significance of Buch's absence.
While skipping the meeting could be construed as contempt against legislative bodies, an exemption was made due to Buch's status as a woman, according to The Hindu. However, the decision to postpone the meeting raised concerns about the potential for delaying accountability and transparency within the SEBI and its regulatory practices. This incident has further amplified the conflict surrounding the Adani Group allegations and the potential for conflicts of interest within the SEBI.
Source: SEBI chief skips parliamentary panel meeting citing ‘personal exigencies’