NEW DELHI: BJP member of Public Accounts Committee Nishikant Dubey on Tuesday objected to the demand to get Sebi chairperson Madhabi Puri Buch to appear before the parliamentary committee in the context of Congress’s “conflict of interest” allegations against her.
Sources said summoning Buch would be against the mandate of the PAC which clearly lays down that scrutiny of a public institution by the panel has to be confined to the use of funds it receives from the Centre.
The issue is learned to have cropped up at a meeting of the panel convened to conduct a performance audit of Jal Jeevan Mission when Trinamool Congress’s Saugata Roy demanded calling Buch before the PAC.
Dubey objected and said summoning the Sebi chief would be against the rules which require PAC to concern itself with audits conducted by the Comptroller and Auditor General. “CAG principal auditor cannot audit the Securities and Exchange Board of India without the Centre’s mandate, hence the PAC too cannot summon officials of regulators without evidence of flaws in finances provided by the government,” a source quoted the Godda MP as arguing.
Dubey further said the PAC being the oldest parliamentary committee could not deviate from rules in the absence of “clear evidence that Sebi under Buch misused funds provided to the regulator by the Centre”.
The PAC is headed by Congress’s K C Venugopal.
The exchanges during the deliberations on Tuesday indicate that the issue may be raised again in the next meetings of the PAC.
Sources said summoning Buch would be against the mandate of the PAC which clearly lays down that scrutiny of a public institution by the panel has to be confined to the use of funds it receives from the Centre.
The issue is learned to have cropped up at a meeting of the panel convened to conduct a performance audit of Jal Jeevan Mission when Trinamool Congress’s Saugata Roy demanded calling Buch before the PAC.
Dubey objected and said summoning the Sebi chief would be against the rules which require PAC to concern itself with audits conducted by the Comptroller and Auditor General. “CAG principal auditor cannot audit the Securities and Exchange Board of India without the Centre’s mandate, hence the PAC too cannot summon officials of regulators without evidence of flaws in finances provided by the government,” a source quoted the Godda MP as arguing.
Dubey further said the PAC being the oldest parliamentary committee could not deviate from rules in the absence of “clear evidence that Sebi under Buch misused funds provided to the regulator by the Centre”.
The PAC is headed by Congress’s K C Venugopal.
The exchanges during the deliberations on Tuesday indicate that the issue may be raised again in the next meetings of the PAC.
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