Bombay High Court extends stay on FIR against ex-Sebi chief Buch and 5 others
The Hindu
Bombay High Court extends stay on FIR against former SEBI Chairperson Madhabi Puri Buch over stock market fraud.
The Bombay High Court on Tuesday (April 2, 2025) extended the interim stay on a Mumbai Sessions Special Court’s order directing an FIR against former Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and five others over allegations of stock market fraud and breachers of regulatory norms.
A Single Bench judge, Justice Shivkumar Dige, posted the matter for further hearing on May 7, 2025, and observed, “The interim relief granted earlier shall continue until further orders.”
On March 3, 2025, the High Court asked the Anti-Corruption Bureau (ACB) not to act on a March 1, 2025, Special Court’s order to register an FIR against the former SEBI Chairperson Madhabi Puri Buch and five others, until March 4, 2025, the date, High Court agreed to hear the matter.
Also Read | Hindenburg Research vs SEBI’s Madhabi Buch: How the row unfolded
On March 4, 2025, the High Court stayed a Mumbai Special Court order for four weeks that directed the ACB to register an F.I.R. against the former SEBI Chairperson Madhabi Puri Buch and five other SEBI and Bombay Stock Exchange (BSE) officials in an alleged stock market fraud, regulatory violations, and corruption linked to the listing of a company in 1994.
A Single Bench Judge, Justice Shivkumar Dige, then observed that prima facie, the Special Court’s order on March 1, 2025, was passed mechanically without going into details or attributing any specific role to the applicants.
“After hearing all the parties, it appears that the judge has passed the order mechanically without going to details and without attributing any role to the applicants. Hence, the order is stayed till next date. Four weeks’ time is given to the complainant in the case (Sapan Shrivastava) to file his affidavit in reply to the petitions,” the judge had said then.
BJP secures third consecutive term in Palakkad municipality, winning 25 out of 53 seats despite internal challenges.
The new restaurant in Bengaluru has fresh pasta, sourdough pizzas and other specialties from the regions of Campania, Sicily, Puglia and Naples
Started by the creators of Record Room, 33&BREW is India’s first vinyl microbrewery. It has good music, and a menu by noted chef Sabyasachi Gorai
Anantapur sets deadlines for clearing legacy waste, targeting a clean dump yard and green space by early 2026.
UDF achieves historic win in Kochi Corporation polls, securing 47 seats as LDF faces significant defeat with only 22 seats.
UDF achieves historic victory in Kerala's Malappuram local body polls, winning majorities across municipalities and panchayats.
One arrested in road accident involving key witness against TMC leader Shajahan, injuring him and killing his son.
Eight men arrested in Chennai for the murder of history-sheeter Sathya, linked to a past rivalry and retaliation.
Union Minister Nitin Gadkari announces ₹1.50 lakh crore road works for Maharashtra, set to begin in three months.
UDF dominates Kerala local body polls, leading in 12 of 13 municipalities, while NDA claims victory in Thripunitura.
Bombay High Court orders fresh elections for Buldhana Waqf Trust within two months amid ongoing trustee disputes.
Priyanka Gandhi criticizes MGNREGA renaming, highlighting unnecessary costs and questioning its rationale amid public distraction concerns.
TANSACS contractual employees informed there's no provision for regularization or benefits, despite ongoing demands for permanent positions.