Sebi chairperson appears before parl panel over regulatory issues

SEBI chairperson Madhabi Puri Buch on Tuesday appeared before the parliamentary standing committee on finance over regulatory issues concerning the capital market.

According to sources, Buch is also expected to be questioned about the recent National Stock Exchange (NSE) scam.

The panel chaired by former minister of state for finance Jayant Sinha has called Buch to deliberate upon regulatory issues related to initial public offerings, international financial services centres and alternate investment fund, according to a notice issued by the Lok Sabha Secretariat.

Memebers in the committee said they would like to know about the investigation being done by the SEBI in the NSE scam in which several of its top officials including former chief executive officers Chitra Ramakrishna and Ravi Narain are being investigated.

Sinha had said that Buch has been called by the parliamentary panel to deliberate upon the orderly functioning of the market in the recent volatility and turbulent flow of cash.

This is the second meeting of SEBI officials with the parliamentary panel in the last week, after March 30.