Tuesday, March 18, 2025

Creating liberating content

Hamas has already felt the strength of our hand in

MUMBAI: India’s nuclear programme crossed a significant milestone at 2.37am

Spencer Platt | Getty Images Individual investors, whose assets are

Related News

Hamas has already felt the strength of our hand in the past 24 hours, Benjamin Netanyahu said. Jerusalem: Prime Minister Benjamin Netanyahu on Tuesday said that a wave of deadly

MUMBAI: India’s nuclear programme crossed a significant milestone at 2.37am on Monday when the seventh unit of the Rajasthan Atomic Power Station (Rapp-7) at Rawatbhata was connected to the northern

Spencer Platt | Getty Images Individual investors, whose assets are more tied to the stock market than ever, have abandoned their tried-and-true dip-buying mentality as the S&P 500 recently fell

File photo of US President Donald Trump and Russian President Vladimir Putin (Pic credit: AP) Russian President Vladimir Putin, notorious for keeping world leaders waiting, appeared in no rush to

Bullish sentiment for stocks cratered in historic fashion this past month as President Donald Trump’s haphazard rollout of tariffs rattled markets and raised concerns about economic growth, according to the

Sudiksha Konanki’s parents want her to be officially declared dead so that they can get some closure. Despite pressing for a wider search for their missing daughter Sudiksha Konanki who

Trending News

Gold prices surged by Rs 500, reaching a record high of Rs 91,250 per 10 grams in the national capital on Tuesday. This increase was driven by continued buying from

MUMBAI: RBI has pumped in over Rs 5 lakh crore into the banking system since mid-Jan through bond purchases, forex swaps and early-April maturity repos. To ensure that liquidity remains

Top stocks to buy (AI image) Stock market recommendations: According to Somil Mehta, Head – Alternate Research, Capital Market Strategy, Mirae Asset Sharekhan, Trent and Bharat Forge are the top

NEW DELHI: India’s trade deficit has narrowed to a 42-month low of $14 billion in Feb 2025, thanks primarily to imports slowing to $51 billion, data released by the commerce

US President Trump with PM Modi NEW DELHI: Amid US President Donald Trump’s tariff threats, India is engaging with the US to find ways of increasing trade and discussing the

Bajaj to buy out Allianz’s stakes in insurance joint ventures MUMBAI: In the biggest insurance sector deal in India, Bajaj group will buy out Allianz’s 26% stakes in their life

Stock market fraud case: Bombay HC grants relief to ex-Sebi chief Buch, halts ACB action until March 4 | India News

Word Count: 686 | Estimated Reading Time: 4 minutes


Stock market fraud case: Bombay HC grants relief to ex-Sebi chief Buch, halts ACB action until March 4

Madhabi Puri Buch (File photo)

NEW DELHI: The Bombay high court on Monday granted relief to former Sebi chairperson Madhabi Puri Buch, directing the state Anti-Corruption Bureau (ACB) not to act on a special court’s order to file an FIR against her and five other officials until March 4.
The directive comes after Buch, along with Bombay Stock Exchange (BSE) Managing Director Sundararaman Ramamurthy and others, moved the court to quash the order issued on March 1.
A single bench of Justice S G Dige took up the matter for urgent hearing, saying that the pleas would be considered on Tuesday. Until then, the ACB has been instructed not to act on the order. Solicitor General Tushar Mehta represented Buch and three SEBI directors, while senior counsel Amit Desai appeared for Ramamurthy and former BSE chairman Pramod Agarwal.
Also read: Mumbai special court orders FIR against former Sebi chief and officials over listing irregularities and ‘regulatory oversight’
The petitioners argued that the special court’s order was arbitrary and illegal, as they were neither notified nor given a chance to be heard before the decision was made. The special ACB court judge, S E Bangar, had ruled that there was prima facie evidence of regulatory lapses and collusion, warranting an investigation. The court also stated it would monitor the probe and sought a status report within 30 days.
The case stems from a complaint by media reporter Sapan Shrivastava, who alleged large-scale financial fraud and regulatory violations during the 1994 listing of a company on the BSE. He claimed that SEBI officials facilitated market manipulation by allowing the listing without compliance under the SEBI Act, 1992.
SEBI responded to the developments, saying that it would challenge the order through legal means. The market regulator highlighted that the allegations pertain to events that occurred long before the accused held their current positions. The BSE also dismissed the complaint as “frivolous and vexatious.”
Buch, India’s first woman SEBI chief, recently completed her three-year tenure amid controversy, including allegations of conflict of interest linked to Hindenburg Research’s claims about her investment history. She has denied the accusations, saying that her investments predated her SEBI appointment.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account