October 24, 2024: The Public Accounts Committee (PAC) of Parliament adjourned its meeting today after Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch announced she would not attend due to "personal exigencies." The questioning was focused on the performance of SEBI amid serious allegations raised by US-based Hindenburg Research.

Originally scheduled for 11 AM in Delhi, the meeting aimed to scrutinize SEBI’s actions and regulatory effectiveness, particularly in light of the controversies surrounding its chairperson. A team of 3-4 senior SEBI officials was also expected to participate in the session, which included both ruling and opposition members determined to investigate the allegations against Buch.

Despite SEBI's prior inquiry regarding the necessity of Buch's presence, the committee had insisted on her attendance, underscoring the significance of the issues at hand. With Buch’s absence, the PAC is now left to regroup and determine the next steps in their inquiry into the regulatory body’s performance.

The adjournment has sparked discussions among lawmakers, particularly from the opposition, who have voiced concerns over accountability and transparency within SEBI.