Bombay High Court Extends Stay on SEBI FIR

• The Bombay High Court has extended the interim stay on the order directing an FIR against former SEBI Chairperson Madhabi Puri Buch and five others.
• The court granted Buch and others four weeks to study the complainant's affidavit and scheduled the next hearing for May 7.
• The case involves allegations of stock market fraud and corruption linked to the listing of Cals Refineries on the BSE in 1994.
• The complainant, journalist Sapan Shrivastava, claims SEBI officials accepted bribes to overlook regulatory breaches, causing him financial losses.
• SEBI and BSE officials have denied the allegations, calling the application frivolous and vexatious.

Source: Hindustan Times, The Hindu