BJP members claim PAC move against rules, to seek Speaker’s intervention

“While performing the functions of Chairman, Public Accounts Committee, Mr. K.C. Venugopal has, thus, committed an unconstitutional and disdainful enactment of announcing an enquiry against the SEBI Chief by the Committee (PAC), which is against the Constitutional provisions and successful wide usurpation of Rule 308 of the Rules of Procedure and Conduct of Business. I petition your goodself to restrain Mr. K.C. Venugopal not to play astatine the hands of the aforementioned ‘tool kit’ and misuse his presumption arsenic Chairman of the Public Accounts Committee,” Dubey wrote to Birla.

The PAC connected Friday finalised its docket for its adjacent gathering connected October 24. The docket stated: “Briefing by Audit followed by Oral grounds of the representatives of Ministry of Finance (Department of Economic Affairs) and Securities and Exchange Board of India (SEBI) connected the subject, ‘Performance Review of Regulatory Bodies established by Act of Parliament’. Oral grounds of the representatives of the Ministry of Communications, Department of Telecommunications and Telecom Regulatory Authority of India connected the subject, ‘Performance Review of Regulatory Bodies established by Act of Parliament’.”

Sources said the PAC has truthful acold not received a confirmation from SEBI connected whether Buch, who has been accused of nonrecreational impropriety by US-based steadfast Hindenburg Research, would be the gathering herself oregon nonstop a representative.

Dubey wrote the missive connected September 9 aft the PAC suo motu decided to reappraisal the show of SEBI. The BJP MPs successful the sheet cited rules to accidental that the sheet did not person the powers to reappraisal the show of the regulatory committee arsenic the CAG could not audit it unless the Central authorities permitted it. Now that the PAC has asked Buch and different officials to look earlier it connected October 24, sources said the ruling enactment MPs volition attack the Speaker for his involution against it.

Dubey successful his missive alleged that Venugopal was “handpicked by the Congress to devise ways and means adjacent by misusing his authority” and helium is present trying to “to rake up those issues which are non-existent, with the sole volition of defaming the authorities and destabilising the fiscal operation and the economy”.

The BJP MP argued that the functions of the PAC, arsenic per the rules of the Rules of Procedure and Conduct of Business successful Lok Sabha, see introspection of accounts showing the appropriation of sums granted by Parliament for the expenditure of the Government of India, the Annual Finance Accounts of the authorities and specified different accounts laid earlier the House arsenic the committee whitethorn deliberation fit.

On the ground of the rules, the committee has to fulfill that the wealth shown successful the accounts of the authorities arsenic the wealth disbursed by it are legally disposable for the services oregon purposes to which they person been charged, that the expenditure conforms to the authorization which governs it and that each re-appropriation has been made successful accordance with the provisions framed by competent authority. Dubey argued that the “sole relation of the PAC is confined to scrutinising the Appropriation Accounts of the authorities of India and the CAG reports”.

The BJP MP said the CAG has not published immoderate study connected the behaviour of SEBI main nor the existent charges person immoderate linkage to the Appropriation Accounts of the Indian government.

“Therefore, present the question arises arsenic to what are the compelling reasons connected the ground of which Mr. K.C.Venugopal, successful the capableness of Chairman of Public Accounts Committee, has announced an unconstitutional, amerciable and highly deplorable enactment to analyse the allegation of ‘conflict of interest’ of Mrs. Madhabi Puri Buch, SEBI Chief by the Public Accounts Committee…,” helium wrote successful his letter.