Goa, March 4 -- The Bombay High Court has suspended the order issued by a special court that directed the filing of a First Information Report (FIR) against former SEBI Chief Madhabi Puri Buch, along with other senior officials of the Bombay Stock Exchange (BSE). The special court had earlier mandated that an FIR be filed in connection with allegations against Buch and the BSE officials, but they sought relief from the Bombay High Court to dismiss the case.

The matter was heard by Justice Shivkumar Dige, who, after considering arguments presented by Solicitor General Tushar Mehta, senior advocates Amit Desai and Sudeep Pasbola, and the complainant, Sapan Shrivastava, concluded that the special court's order was "mechanical." The term "me...