Mumbai, Mar 3 (UNI) A day after the Anti-Corruption Bureau (ACB), Mumbai asked the ACB to file an FIR against former Chairperson of SEBI and five others to investigate into alleged irregularities pertaining to listing of a company, Ms Madhabi Puri Buch and others moved the Bombay High Court, seeking to quash the order against them for alleged stock market fraud.
In her petition, former SEBI Chairperson Ms Buch challenged the special court order passed on a complaint made by a journalist alleging that SEBI officials had allowed the listing to proceed without adhering to the SEBI Act, 1992, as well as key regulatory frameworks such as the SEBI (ICDR) Regulations, 2018, and the SEBI (LODR) Regulations, 2015.
The complainant has accused the officials of facilitating market manipulation, insider trading, and artificial inflation of share prices, leading to significant investor losses.