The Public Accounts Committee (PAC) of the Parliament will conduct a detailed investigation of the accounts of the Securities Exchange Board of India i.e. SEBI. The committee will review the accounts of SEBI for the financial year 2022-23 and financial year 2023-24.
This is the first time that PAC has felt the need to investigate the financial performance of SEBI. Senior Congress leader KC Venugopal heads the Public Accounts Committee. This committee includes leaders of both NDA and opposition parties.
A government official has given this information. The function of the Public Accounts Committee is to scrutinize the revenue and expenditure of the government and ensure accountability in public finances.
Finance Ministry will have to make data available by September 27
“PAC has never called SEBI before,” a government official told Moneycontrol. He has asked for data. Its last date is 27th September. By this date, the Finance Ministry will have to make this data available to the Parliament Secretariat.
Asked for details of SEBI receipts-payments and CAG audit report
The details sought by PAC include receipts and payments of SEBI, audit report of CAG and observations of SEBI's internal committee. The agenda of the PAC meeting held on August 29 included investigation of SEBI's accounts.
PAC may call SEBI Chairperson Madhabi in the next meeting
The official said, 'PAC may call SEBI chairperson Madhabi Puri Buch in its next meeting. This will be a review of the performance of the regulator.
PAC is going to conduct this investigation at a time when serious allegations have been made against the SEBI chief by Hindenburg Research. The American short seller alleges that Buch did not show impartiality in the investigation of the Adani case.
The board meeting of market regulator SEBI is scheduled to be held on September 30.
The board meeting of market regulator SEBI is scheduled to be held on September 30. In this, matters related to the allegations against Butch can be discussed. This meeting will be very important, because this will be the first meeting of the SEBI board after Hindenburg's allegations against Butch.
11 consultation papers issued by SEBI are also expected to be discussed in this meeting. These also include proposals to change the rules of Futures and Options (F&O).
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