Mumbai: A special anti-corruption court in Mumbai has ordered the filing of a First Information Report (FIR) against senior officials of the Securities and Exchange Board of India (SEBI), including former Chairperson Madhabi Puri Buch, in connection with an alleged stock market fraud and regulatory violations.
The court’s directive came after a petition was filed by Thane-based journalist Sapan Shrivastava, prompting Special Judge SE Bangar to issue the order. The court also instructed that the investigation be closely monitored and ordered the relevant authorities to submit regular status reports on the case. The SEBI officials named in the case are accused of facilitating market manipulation and corporate fraud by permitting the listing of a company that allegedly failed to meet regulatory norms.
In response, SEBI issued a statement clarifying that the officials named in the FIR, including Madhabi Puri Buch, as well as three current full-time SEBI members and two officials from the Bombay Stock Exchange (BSE), were not in their respective positions at the time the alleged violations took place.
