The Sebi, in a statement on Sunday, said it 'would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters'.

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,

Bombay High Court halts ACB action against SEBI officials accused of stock market fraud until further hearing.