India, March 4 -- The Bombay high court on Monday temporarily stayed a special court's order directing a First Information Report (FIR) to be registered against former Securities and Exchange Board of India (Sebi) chairperson Madhabi Puri Buch and five others for alleged financial fraud, regulatory violations and corruption.

A single-judge bench of justice SG Dige asked Maharashtra's Anti-Corruption Bureau (ACB) to not act on the order until March 4, when the case will be heard by the high court. This was after Buch and five other senior Sebi and Bombay Stock Exchange (BSE) officials mentioned in the special court's March 1 order approached the high court on Monday to quash it.

Solicitor general Tushar Mehta, who represented Buch and Se...