A special ACB court in Mumbai has ordered the filing of an FIR against former SEBI chief Madhabi Puri Buch and other officials for alleged regulatory

SEBI on Sunday said it will initiate appropriate legal steps to challenge the Mumbai court order, which has allowed launching an FIR against former SEBI chief Madhabi Puri Buch, three current Whole Time Members of SEBI and two officials of the BSE.

A Mumbai court has ordered an FIR against former SEBI chief Madhabi Puri Buch and five others over alleged stock market fraud and regulatory violations.

Special court orders FIR against former SEBI chairperson and officials for stock market fraud, regulatory violations, requiring impartial probe.

SEBI is set to challenge the Mumbai Court corruption probe FIR order on ex-Chief Madhabi Puri Buch, and five other officials, according to an official statement on Sunday, March 2.

The alleged financial fraud in contention had supposedly happened back in 1994. The complainant contended that SEBI officials failed in their statutory duty.

The complaint accused the SEBI officials of facilitating market manipulation and allowing corporate fraud by letting a company go ahead with listing even when it failed to meet the prescribed norms.

A Mumbai court on Saturday directed the Anti-Corruption Bureau (ACB) to register an FIR against ex-Securities and Exchange Board of India (SEBI) chairperson Mad

India's market regulator and the Bombay Stock Exchange will take appropriate legal action to challenge a Mumbai court order against their officials in relation to an alleged stock market fraud and regulatory violations,

Reacting to the court’s order, SEBI, in a statement said it "would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters".