Madhabi Puri Buch, along with five others on Monday moved the Bombay high court, seeking to quash the recent order of a special court directing an FIR against them for alleged stock market fraud. The Bombay high court will be hearing their pleas on March 4,

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”.

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

Hindenburg accused Madhabi Puri Buch and her husband Dhaval Buch of investing in offshore entities that were allegedly part of a fund structure in which Vinod Adani—the elder brother of Adani group founder chairman Gautam Adani—also had investments.

SEBI on Sunday said it will initiate appropriate legal steps to challenge the Mumbai court order, which has allowed launching an FIR against former SEBI chief Madhabi Puri Buch, three current Whole Time Members of SEBI and two officials of the BSE.

A special Anti-Corruption court in Mumbai on Saturday directed the registration of an FIR against top officials of the Securities and Exchange Board of India (SEBI), including former Chairperson Madhabi Puri Buch,

A special ACB court in Mumbai has ordered the filing of an FIR against former SEBI chief Madhabi Puri Buch and other officials for alleged regulatory lapses and collusion related to a company's IPO listing in 1994.