House panel questions Sebi chief on NSE Co-location case

The Parliamentary Standing Committee on Finance on Tuesday questioned the Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch on the NSE co-location case.

People familiar with the deliberations told ET that Sebi chairperson briefed the panel on issues related to data security and progress on 'unified securities market code'.

She also flagged the concerns over the issue of cyber security, which remains critical to protect the privacy of investors and to prevent disruption of the markets, they said. They said Buch submitted to the panel that the market regulator was working on a better monitoring system.

The panel chaired by former minister of state for finance Jayant Sinha had 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.

Members, they said, asked a number of questions about the investigation being done by Sebi in the NSE fiasco in which several of the bourse's top officials, including former chief executive officers Chitra Ramkrishna and Ravi Narain, are being investigated.