BJP protecting SEBI chairperson Madhabi Puri Buch from answering to PAC: Congress

This representation made from the video posted by the Congress shows SEBI chairperson Madhabi Puri Buch and the marketplace regulator’s logo. Photo: X/@INCIndia

The Congress connected Saturday (October 26, 2024) accused the BJP of insulating Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch from answering to the Parliament’s Public Accounts Committee (PAC) connected the show of the regulator. Ms. Buch skipped the PAC meeting connected Thursday (October 24, 2024) citing idiosyncratic reasons.

Sharing a video prepared by the enactment connected the “stock scam” connected societal media, Leader of the Opposition successful the Lok Sabha Rahul Gandhi said Ms. Buch was being protected from giving answers to Parliament, from resigning arsenic SEBI main and from an probe into her alleged links with the Adani Group companies. “Who is the syndicate protecting Ms. Buch? And much importantly, wherefore is this syndicate protecting her? Everything volition beryllium revealed soon,” helium wrote.

Pawan Khera, the enactment president for media and publicity, successful a statement, asked who was manipulating the hard-earned investments of 10 crore tiny and mean investors successful the banal market. He asked wherefore the Narendra Modi-led authorities was shielding the SEBI main from parliamentary scrutiny. He said Mr. Modi and Home Minister Amit Shah person singlehandedly destroyed the sanctity and integrity of SEBI.

“In the 78 years since India’s Independence, nary authorities has compromised the sanctity of our antiauthoritarian institutions arsenic shamelessly arsenic the BJP authorities has done implicit the past decade,” helium said, adding that SEBI’s relation was profoundly undermined by the contiguous government. “Through a bid of property conferences, we person exposed aggregate instances of conflicts of involvement involving SEBI Chairperson Ms. Buch and her family. These sedate revelations person shaken the spot of India’s 11.5 crore registered investors, who number connected SEBI to uphold a transparent and just fiscal environment,” helium said.

The elder Congress person said the legally questionable behaviour of the regulator was a superior menace to the stableness of the country’s regulatory environment. “It not lone instils distrust among Indian investors but besides raises reddish flags for imaginable overseas investors, pushing India’s maturation prospects backward,” helium said.

Mr. Khera said, successful airy of these superior allegations, the PAC took a basal by summoning SEBI officials, including Ms. Buch. “However, conscionable an hr earlier her scheduled appearance, Ms. Buch claimed an emergency, expressing her inability to attend. Meanwhile, BJP MPs protested the summons. We deliberation this is nary coincidence. We deliberation that the authorities is trying to support Ms. Buch to prevention the bigger players successful this nexus,” helium alleged.

Published - October 26, 2024 11:00 p.m. IST