Lokpal calls SEBI chief, complainants for 'oral hearing' over corruption charges

New Delhi: The anti-corruption watchdog Lokpal has summoned Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and complainants, among them TMC Lok Sabha member Mahua Moitra, for a hearing scheduled for next month.

The hearing pertains to corruption complaints against the SEBI chief made by Moitra and two others. The complaint was made based on a Hindenburg Research report alleging impropriety and conflict of interest by the SEBI chief.

Buch was asked to submit her response within four weeks.

Hearing the case, the Lokpal said the named RPS (respondent public servant) "has filed her response by way of affidavit sworn on 07.12.2024 in time, raising preliminary issues as well as giving explanation allegation-wise".

"Further, we deem it appropriate that the RPS as well as the complainants can be given opportunity of oral hearing to clarify their positions taken in the complaints or the affidavit, as the case may be," according to the December 19 order signed by Lokpal chairperson Justice AM Khanwilkar and five other members.

Accordingly, the Lokpal has asked the registry to issue notices to the RPS as well as the complainant(s) to avail of the opportunity of oral hearing on January 28.

In an order dated September 20, the Lokpal had said the complaint by the parliamentarian, alleging impropriety and conflict of interest by the SEBI chief, "falls short" of persuading it to order any probe.

The anti-corruption ombudsman's observation came while hearing two complaints, including one by the TMC MP, filed on the basis of a report by the US-based "activist short-seller".

In its report, US-based short-seller Hindenburg Research alleged that Buch and her husband had stakes in obscure offshore funds used in the alleged money siphoning scandal involving the Adani Group.

They denied the allegations, saying the short-seller was attacking the capital markets regulator's credibility and attempting a character assassination.

The Adani Group had also termed Hindenburg Research's allegations malicious and manipulation of selective public information.