New Delhi, March 2 -- The Securities and Exchanges Board of India (SEBI), on Sunday, March 2, announced that they will initiate appropriate legal action over the corruption court order, which involves an allegation of involvement of SEBI's ex-Chief Madhabi Puri Buch and five other officials into an irregularity in granting listing permission to a firm, according to an official press release.

"SEBI would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters," said SEBI in its official statement.

Earlier, a Mumbai Anti-Corruption Bureau special court order directed that an FIR be registered against the former SEBI chairperson, Madhabi Puri Buch, three curre...