Securities and Exchange Board of India (SEBI), the prominent Indian regulatory agency, is facing serious allegations of a toxic work environment. In a recent complaint to the finance ministry, SEBI officials have detailed a culture marked by harsh language, unrealistic expectations, and micromanagement.

According to the complaint, SEBI's leadership has allegedly engaged in public humiliation, scolding, and the use of unprofessional language towards team members. Employees have reported feeling pressured to meet unrealistic targets that are frequently changed, and have complained of excessive micromanagement.

The toxic environment has reportedly led to deteriorating morale and work-life balance among SEBI officials. Many have expressed concerns about the fear and mistrust that has permeated the organisation due to the current management style.

SEBI has responded to the allegations by stating that changes have been made to the format of review meetings. However, the concerns raised by employees remain significant.

This development comes at a critical time for SEBI, as it follows recent accusations of potential conflicts of interest in the regulator's inquiry into the Adani Group. 

The inquiry was added to the PAC’s agenda following demands from members during the panel’s first meeting on August 29. The PAC, led by Congress leader KC Venugopal, includes representatives from both the ruling NDA and the opposition INDIA bloc.

According latest media reports, the parliamentary Public Accounts Committee (PAC) will investigate allegations against SEBI Chairperson Madhabi Puri Buch and may summon her later this month.

The Congress Party, along with others, demanded her temporary removal to facilitate an impartial enquiry.

What remains to be seen is how the situation unfolds and how the PAC responds to these serious allegations and what steps, if any, will be taken to address the concerns raised by SEBI officials.