A single-judge bench of justice SG Dige asked Maharashtra’s Anti-Corruption Bureau (ACB) to not act on the order until March 4, when the case will be heard by the high court

Chairperson Madhabi Puri Buch, along with Bombay Stock Exchange (BSE) Managing Director Sundararaman Ramamurthy and four other officials, have approached the Bombay High Court (HC) to quash a special court’s recent order that directed the registration of an FIR against them for alleged stock market fraud and regulatory violations,

The Bombay High Court will hear their pleas on March 4, 2025. Until then, the Anti-Corruption Bureau (ACB) has been asked to avoid acting on the special court order. The ACB court announced that it would oversee the investigation and requested a status report in 30 days.

The Bombay High Court is set to hear the pleas of the former Sebi chief and others on March 4, the Anti-Corruption Bureau will not proceed with the special court order until then, reported PTI. The development comes after the market regulator informed to initiate legal action against the court order alleging ex-SEBI Chief Madhabi Puri Buch and five others of stock market fraud and regulatory violations.

A special court has ordered an FIR against former SEBI chief Madhabi Puri Buch and others over financial fraud and regulatory violations.

The Securities and Exchange Board of India (SEBI) has announced that it will take “appropriate legal steps” to challenge an Anti-Corruption Bureau (ACB) court order directing the registration of a First Information Report (FIR) against former SEBI chairperson Madhabi Puri Buch and five other officials over alleged stock market fraud and regulatory violations.