Rahul Gandhi Reacts On Sebi Chief Madhabi Buch Skipping PAC Summons, Asks Who's 'Shielding' Her

Leader of Opposition in the Lok Sabha, Rahul Gandhi, slammed Sebi chief Madhabi Puri Buch on Thursday, questioning why she appeared unwilling to testify before Parliament's Public Accounts Committee (PAC).

His remarks came after Buch, who was summoned by the PAC earlier today, did not attend the meeting, citing "pressing reasons." The PAC had called Buch to assess Sebi's functioning following conflict of interest allegations raised by US short-seller Hindenburg, which Buch has firmly denied.

In a post on X, Gandhi also queried who was responsible for "shielding" her from accountability to the PAC.

"Why is Madhabi Buch reluctant to answer questions before the Public Accounts Committee (PAC) of Parliament? Who is behind the plan to protect her from being answerable to the PAC?" the Congress leader asked.

After Buch missed the meeting, Senior Congress leader KC Venugopal, who chairs the PAC, postponed the session, with NDA members accusing him of acting unilaterally and filing a protest with Lok Sabha Speaker Om Birla.

Sebi has faced criticism from Congress and other opposition groups following a report by Hindenburg Research accusing the Adani Group of "stock price manipulation."

Last month, Hindenburg claimed that Sebi's reluctance to act against the Adani Group could stem from the "chairperson holding stakes in offshore funds linked to the conglomerate." Buch dismissed these claims as "baseless."

She has also faced accusations of holding an office of profit at ICICI Bank, a claim the bank has firmly denied.

Congress alleged last month that Buch earned Rs 16.80 crore from ICICI Bank between 2017 and 2024, despite becoming a full-time Sebi member in 2017.