💨 Abstract

The Bombay High Court has stayed a Mumbai special court order to file an FIR against former SEBI Chairperson Madhabi Puri Buch and five others, allegedly involved in a fraudulent IPO listing in 1994. The high court observed that the lower court had not thoroughly examined the matter before ordering an FIR. SEBI, defending the accused officials, argued they were not in their positions at the relevant time.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖