Mumbai, March 4, 2025 – The Bombay High Court has stayed a special court’s directive to register an FIR against former SEBI chairperson Madhabi Puri Buch and five others over alleged stock market fraud linked to a 1994 listing case. The court noted that the order seemed mechanical and lacked a detailed examination of the accused’s roles.
SEBI has opposed the special court’s decision, stating that the officials were not in their respective positions at the time of the incident. The High Court has given the complainant four weeks to respond to petitions filed by Buch and the other officials.
