No.
The committee was not a court of law. They had no power to indict Michael for any crimes. They did have the power to subpoena him, swear him in, and compell him to testify. If he lied under oath at that hearing (i.e., committed perjury), the committee did have the power to recommend to a US Attorney that Michael be charged with perjury. His perjured testimony would be on their record.

The beauty part: Michael might never have been convicted in any court of law of any of the crimes the committee accused him of (like running all the gambling in the US, killing Sollozzo and McCluskey, the Great Massacre of 1955). Any prosecutor who tried to would have had to find witnesses, get jurors who weren't intimidated, etc. But they wouldn't have to prove any of those crimes to convict him of perjury--lying under oath. He could be sent away for five years on each count of perjury. Here's an example from real life:

Alger Hiss was a high-ranking State Department official in the Thirties and Forties. A former Communist, Whittaker Chambers, accused Hiss of being a Communist agent, a member of his local Commie group, or "cell." The House Un-American Activities Committee called Hiss to testify. He denied the charge under oath, and said he'd never even met Chambers, much less served in same Communist "cell" with him. But thanks to the doggedness of a young Congressman and committee member named Richard M. Nixon, it was proved that Hiss had met Chambers years earlier. Hiss was convicted of perjury--lying under oath. Even though the committee never proved he was a Commie or a spy, the perjury conviction ruined Hiss.