SEBI and BSE to Challenge Court Order on Fraud Allegations

• SEBI and BSE have announced plans to challenge a special Mumbai court's order to probe ex-SEBI chairperson Madhabi Buch and five others.
• The court's directive follows allegations of financial fraud, regulatory violations, and corruption related to a company's listing in 1994.
• The complaint, filed by journalist Sapan Shrivastava, accuses SEBI officials of failing their statutory duties and facilitating market manipulation.
• SEBI and BSE have labeled the complaint as frivolous, stating that the officials were not in their positions at the time of the alleged fraud.
• Both organizations are committed to taking appropriate legal steps to ensure regulatory compliance and challenge the court's order.

Source: Hindustan Times, Hindustan Times