Allegations against Sebi chief Madhabi Puri Buch to be investigated: Report

The PAC will investigate allegations against Sebi chief Madhabi Puri Buch, with a possible summons later this month, it was reported.

The parliamentary Public Accounts Committee (PAC) will reportedly look into allegations against Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch and may summon her later this month, Economic Times reported citing people in the know.

Sebi chairperson Madhabi Puri Buch. (PTI)

The matter was added to the PAC's agenda after several members demanded an inquiry at the panel's first meeting on August 29, the report added. The PAC is headed by Congress leader KC Venugopal and has members from both NDA and opposition's INDIA bloc.

However, the agenda item doesn't specify the regulator or name the chief and is listed as "Performance review of regulatory bodies established by act of parliament."

Unnamed officials as per the report said that the inquiry stems from the recent allegations against the Sebi chief and "the matter was added on suo moto basis in the August 29 meeting as many members were concerned about the serious allegations against the capital market regulator and the Sebi chief. The concerned ministry officials may be summoned this month."

Madhabi Puri Buch denied wrongdoing and Sebi refuted claims made by the employees and said "external elements" were involved as the complaints of "public humiliation" at the workplace were "misplaced."