Explain conflict of interest: Lokpal to Sebi chief

November 08, 2024 17:19

Sebi chief Madhabi Puri Buch

Anti-corruption ombudsman Lokpal on Friday sought SEBI chief Madhabi Puri Buch's "explanation" on complaints of impropriety and conflict of interest filed by a Lok Sabha member and two others on the basis of a report by US-based short-seller Hindenburg Research, according to an official order.

The Lokpal, however, clarified its order is only a "procedural directive" and "not an expression of our opinion on any matter in issue, either way". Buch, the chairperson of capital markets regulator Securities and Exchange Board of India (SEBI), has been asked to submit her response within four weeks, according to the order.

"...We deem it appropriate to call upon the named RPS (respondent public servant) to offer explanation qua the allegations made against her in the respective complainant and elaborated in the concerned explanatory affidavit," reads the order signed by Lokpal chairperson Justice A M Khanwilkar and five other members.

"This opportunity is being afforded to the named RPS as per the mandate in the third proviso of sub section (1) of section 20 of the Lokpal Act, before the bench would proceed to determine whether there exists a prima facie case for investigation into the allegations," it said. It said she can submit her response or explanation complaint wise in all the three complaints to avoid repetition, the order said. -- PTI

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