Former SEBI Chairman Gets Relief as Court Stays FIR Order

Mumbai (The Uttam Hindu): Bombay High Court has stayed the order of special court to register FIR against former SEBI chairperson Madhabi Puri Buch and others. Former SEBI chief Buch and five others had approached the Bombay High Court seeking quashing of the order to register FIR against them for alleged stock market fraud.

The Bombay High Court today directed the Anti-Corruption Bureau (ACB) not to take any action till March 4 on the order to register an FIR against former market regulator SEBI chairperson Madhabi Puri Buch and five other officials. The ACB special court in Mumbai on Saturday ordered the registration of an FIR against Buch and other officials in cases of alleged fraud and regulatory violations in the stock market. The petitioners termed this decision as illegal and arbitrary and sought to cancel it.

A single bench headed by Justice S.G. Dige fixed the matter for hearing on Tuesday and directed not to take any action on the ACB court order till then.