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House finance panel may question Sebi Chief in NSE Scam – Economic Times

A parliamentary panel on finance headed by former minister of state for finance Jayant Sinha has called top officials of market regulator Sebi including its chairperson Madhabi Puri Buch for questioning on issues pertaining to regulatory issues and the NSE colocation scam.

The committee on finance summoned Security Exchange Board of India (SEBI) representatives on Tuesday. Officials in the Ministry of Corporate Affairs said that the newly appointed chairperson Madhabi Puri Buch may appear before the committee. “The standing committee has issued a notice……Panel would like know what went wrong in the case of NSE,” the official said. The new chairperson herself is expected to attend the meeting and inform the panel about the development, the official added.

They will also discuss (Stock) market conditions in context of the ongoing Ukraine crisis and LIC IPO,” the official told ET. The panel is also likely to question the precautionary steps taken by the exchange.

Earlier the meeting was scheduled for April 6, but now will be held on Tuesday. The committee is also likely to discuss regulatory issues related to initial public offerings, international financial services centres and alternate investment funds.

The Central Bureau of Investigation (CBI) is already investigating a NSE scam in which several of its top officials including former chief executive officers Chitra Ramkrishna and Ravi Narain are being investigated. An FIR which was registered in May 2018, amid fresh revelations about irregularities at the country’s largest stock exchange.

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