The Bombay High Court stayed a special court order directing the registration of an FIR against ex-SEBI chairperson Madhabi Puri Buch and five officials for alleged stock market fraud and regulatory violations,

Desai contended that the special court failed to examine the petitioner or conduct a proper inquiry into what he described as a “malafide” matter. Desai also noted that while Sebi, in response to an RTI filed by the petitioner,

The Bombay High Court on Tuesday put a four-week hold on a special court's order which had directed the Anti-Corruption Bureau (ACB) to file an FIR against former SEBI Chairperson Madhabi Puri Buch and five other officials.