To summon Buch or not? Key Parl panel has no clear answer

The issue of whether Sebi chief Madhabi Puri Buch can be called suo motu before the Public Accounts Committee seems to have divided the key Parliamentary panel.

The panel, which met on Tuesday to discuss the performance audit on the National Rural Drinking Water Programme of Jal Shakti Ministry, based on a CAG report, is learnt to have debated on the procedural aspects of the matter regarding summoning the Sebi chairperson before it.

While sources aware of the rules said the PAC, which mainly scrutinises programmes and projects on the basis of CAG reports, can summon a person suo motu, the panel seems to be divided on the issue.

Sources said while PAC chairman and Congress MP KC Venugopal indicated that Buch could be summoned and a decision in this regard would be taken after building consensus with other members of the committee, BJP MP Nishikant Dubey is learnt to have objected to the proposal during Tuesday’s meeting. He is understood to have said that on a suo motu basis, the panel could not summon anybody. TMC MP Sougata Roy had written to Venugopal on September 2 to summon Buch for the September 10 meeting. However, the panel chief is yet to take a call on it even as the debate within it rages over procedural issues.

Buch has been accused of having an investment with an off-shore entity reportedly controlled by the Adani Group indirectly. There are also allegations against her of taking unjustified salary payments and employee stock ownership plan or ESOPS benefits from ICICI Bank and off-market rents from a company which is part of the Wockhardt group. Another source informed that evn as the panel could summon a person on suo motu basis, the issue related to him or her should be part of the agenda of the meeting being held for the same.