Lok Sabha Speaker Om Birla will take a call on summoning SEBI Chairperson Madhabi Puri Buch by the Public Account Committee (PAC), a Parliamentary Committee. The Committee, chaired by Congress MP K C Venugopal, is scheduled to meet on October 24.

The Lok Sabha Bulletin showed two items listed for the meeting. The first was briefing by Audit followed by Oral evidence of the representatives of Finance Ministry and Securities and Exchange Board of India (SEBI) on the subject, “Performance Review of Regulatory Bodies established by Act of Parliament”.

The second was oral evidence of the representatives of Communication Ministry and Telecom Regulatory Authority of India on “Performance Review of Regulatory Bodies established by Act of Parliament.”

A controversy erupted after PAC Chairman Venugopal decided to summon Buch to enquire about claims of conflict of interest and corrupt practices. After that PAC member and BJP MP Nishikant Dubey wrote to Speaker to restrain PAC Chairman.

“Now a decision has to be taken by the Speaker on the issue of calling Buch. However, one thing is clear that only Department related Parliamentary Standing Committee can summon anyone at any time and question,” a source told businessline.  

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The functions of the PAC, as enshrined in Rule 308(1) of the Rules of Procedure and Conduct of Business in Lok Sabha, include examination of accounts showing the appropriation of sums granted by Parliament for the expenditure of the Central government. Also, it examines the annual finance accounts of the Government.

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