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JPC could examine PMO: Tripathi

The Joint Parliamentary Committee probing the stock scam on Monday did not rule out examining officials of Prime Minister's Office in connection with the UTI muddle, but said it was 'premature' to say who all would be called at this stage.

"It is pre-mature to say anything at this stage," JPC chairman Prakash Mani Tripathi said, adding that its terms provided for calling anybody if the committee so desired for examination in connection with stock scam or UTI fiasco.

"JPC would, however, not be discussing or investigating PMO as a subject," Tripathi told reporters.

The committee, which met to discuss the 'broad agenda' after its scope was widened to include UTI muddle, would be approaching Parliament for extension of its tenure by six months, he said.

Originally the JPC was to submit its report by the end of monsoon session of Parliament on August 31. Apart from it being asked to investigate the UTI mess, JPC could not have many sittings during this session due to preoccupation of members in important debates in the two houses of Parliament.

Tripathi said that the JPC proposes to have 20 sittings during the intersession to collect evidences.

Apart from a meeting on Aug 27 to examine action taken report of SEBI on the recommendations of the previous JPC on securities scam, the JPC would tentatively meet from Sept 10 to Sept 13, Sept 24 to Sept 27, Oct 8 to Oct 11, Oct 15 to Oct 18 and Oct 29 to Nov 1.

These meetings would be mostly to collect evidence from investigating agencies, finance ministry, regulatory authorities, stock exchanges, financial institutions, domestic and foreign banks, fund managers, brokers, promoters and corporate entities.

Tripathi clarified that with the inclusion of UTI fiasco, there was no change in terms of reference. Only the scope of the investigation into UTI has been enlarged as earlier only the mutual funds role in the stock scam fell under its purview.

Monday's meeting also discussed the number of stock brokers to be called for evidence, but a final decision had not yet been taken in this regard, he said.

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