Special court orders FIR against former SEBI chairperson and officials for stock market fraud, regulatory violations, requiring impartial probe.

Chairperson Madhabi Puri Buch, along with Bombay Stock Exchange (BSE) Managing Director Sundararaman Ramamurthy and four other officials, have approached the Bombay High Court (HC) to quash a special court’s recent order that directed the registration of an FIR against them for alleged stock market fraud and regulatory violations,

This comes after SEBI issued a statement stating that it would take legal action against the said ruling. It also dismissed the complaint as coming from a “frivolous and habitual litigant”.