A special anti-corruption court in Mumbai has ordered the registration of a First Information Report (FIR) against senior officials of the Securities and Exchange Board of India (SEBI), including former SEBI Chairperson Madhabi Puri Buch, in a case related to alleged stock market fraud and regulatory violations.

The order in the SEBI market fraud case was issued by Special Judge SE Bangar following a petition filed by Thane-based journalist Sapan Shrivastava. The court further stated that it would monitor the probe and also directed the concerned authorities to submit a status report on the case. SEBI officials have been accused of facilitating market manipulation and corporate fraud by allowing the listing of a company that did not meet the prescribed norms.

On the other hand, SEBI issued a clarification, stating that the officials against whom the FIR was ordered, including former Chairperson Madhabi Puri Buch, three current full-time members of SEBI, and two BSE officials, were not holding their respective positions at the relevant time.