The Bombay High Court on Tuesday stayed, for four weeks, a lower court order to file a police case against Madhabi Puri Buch, the former chief of markets regulator SEBI, and five others over alleged market fraud and regulatory violations.

The Bombay High Court on Tuesday stayed for four weeks a special court's order directing FIR against former Sebi chairperson Madhabi Puri Buch and five other officials for alleged stock market fraud and regulatory violations,

Desai contended that the special court failed to examine the petitioner or conduct a proper inquiry into what he described as a “malafide” matter. Desai also noted that while Sebi, in response to an RTI filed by the petitioner,