New Delhi

SEBI Chief Madhabi Puri Buch has skipped the Parliamentary Accounts Committee (PAC) deposition scheduled for October 24.

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Buch cited personal work which cannot be avoided as the reason for not attending the meeting.

The PAC postponed its meeting slated for today after Buch expressed her inability to attend.

PAC Chairman and Congress General Secretary KC Venugopal said the committee, in its first meeting, had agreed to have a suo moto issue for regulatory bodies to consider.

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He said that was the reason the SEBI Chief was summoned.

The parliamentary panel has now decided to postpone the meeting after Buch informed the committee about her absence.

Buch and four other representatives of the SEBI were slotted for the deposition on October 24th after her earlier request for exemption was denied by the panel.

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Venugopal said, "First of all, they sought an exemption, and the SEBI chairperson sought an exemption from appearing before the committee, which we denied. After that, she confirmed she and her team would be present."

According to media reports, a stormy session was expected at Buch's deposition.

With reports quoting sources calling for the ruling party members to stand off against the opposition party's politically targeted attacks.

But with Buch skipping the meeting, Venugopal said her absence could be construed as an attempt to avoid the panel's questions.

He said: "Today morning at 9:30 she informed me that she is not in a position to travel to Delhi. Considering a woman's request we thought that it is better to postpone today's meeting for another day."

A political firestorm is brewing after the PAC moved the meeting to a later date.

Media reports show Ravi Shankar Prasad, a BJP MP and its members, charged that chairman Venugopal made choices on his own initiative.

According to Ravi Shankar Prasad, several PAC members, including BJP leaders, complained to the speaker of the Lok Sabha over Venugopal's actions.

There was no objection to the committee's plan to include the performance review of regulatory bodies on its agenda.

Venugopal's decision to call Buch, however, alarmed members of the ruling party.

Buch has been at the centre of a political controversy sparked by accusations made against her by Hindenburg and the opposition party - the Congress.