Mumbai, March 4 -- A single-judge bench of the Bombay High Court has stayed the Mumbai special court order against former SEBI Chairperson Madhabi Puri Buch and five others from filing an FIR in a matter related to alleged fraud in an IPO back in 1994.

The high court, while staying the order to file an FIR against the accused, has issued notices to stakeholders. The matter will be heard next after 4 weeks.

The high court has observed that the special court had not gone into the details of the matter and had passed an order for FIR 'mechanically'.

On March 2, 2025, the Special ACB Court in Mumbai ordered the launching of an FIR against former SEBI Chairperson Madhabi Puri Buch and five others over alleged financial fraud, regulatory vio...