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,

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”.