SEBI Chief Madhabi Puri Buch troubles are set to increase as public accounts committee will investigate

The controversies related to market regulator SEBI's chairperson Madhabi Puri Buch are not reducing. Before one controversy is settled, another controversy is arising. Meanwhile, the problems of the SEBI chief are going to increase. The Public Accounts Committee (PAC) of the Parliament is going to investigate the allegations against the SEBI chief.

According to a report by ET, the PAC headed by Congress leader KC Venugopal is going to investigate various allegations against the SEBI chief ranging from corruption to misbehavior. The report quoted people associated with the matter as saying that the PAC may issue summons to the SEBI chief this month in connection with the investigation.

Many members demanded investigation of SEBI chief

Actually, many members of PAC had demanded an investigation into the functioning of SEBI and the allegations against SEBI Chief Madhabi Puri Buch. After that, the issue of investigating the allegations against the SEBI Chief was added to the agenda of PAC. This issue was added to the agenda in the first meeting of PAC on 29 August. Members of both the ruling party and the opposition are included in this parliamentary committee.

This topic was included in the agenda of PAC

SEBI or the SEBI Chief has not been named directly in the PAC agenda. The agenda has been linked with the title 'Review of the performance of regulatory bodies created by law in Parliament'. However, officials associated with the matter say that it seems to be related to the market regulator SEBI. According to ET's report, apart from the SEBI Chief, PAC can also issue summons to the concerned officials of the ministry by the end of this month.

Hindenburg linked his name to the Adani controversy

SEBI Chairperson Madhabi Puri Buch's relationship with controversies began when an American short seller firm dragged her name into the Adani controversy. Hindenburg alleged that the SEBI chief and her husband have commercial relations with Adani. However, these allegations were completely denied by the SEBI chief, her husband and the Adani Group.

These controversies came to the fore after Hindenburg

After that, leaders of opposition parties accused the SEBI chief of financial irregularities. They said that irregularities were committed in making payments to Madhabi Puri Buch by her former employer ICICI Bank. ICICI Bank has denied this allegation. Recently, Zee Group founder Subhash Chandra has also accused Buch of corruption. The latest controversy is related to SEBI officials and employees. About half of SEBI employees have written a letter to the Finance Ministry complaining about Buch's way of working. They allege that Buch is promoting toxic work culture in SEBI.

Also read: SEBI's clarification on the allegation of toxic work culture, the regulator said – employees are being misguided from outside