HC to ACB: No action on order for FIR against Buch, others till Mar 4

The Bombay High Court on Monday asked the ACB not to act until March 4 on an order directing it to lodge an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials for alleged stock market fraud and regulatory violations.

- Press Trust of India

MUMBAI:

Buch, BSE MD Sundararaman Ramamurthy and the others moved the HC on Monday, seeking to quash the March 1 order passed by a special court here directing the state ACB to register an FIR against them pertaining to certain allegations of fraud committed in 1994 while listing a company on the BSE.

The pleas were mentioned before a single bench of Justice S G Dige for urgent hearing.

The bench said it would hear the pleas on Tuesday and added that until then, the state Anti-Corruption Bureau (ACB), which was directed to probe the case, shall not act upon the special court order.