Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Stock Market»Stock Market Fraud: Mumbai Court orders FIR against Madhabi Puri Buch, SEBI officials – Market News
    Stock Market

    Stock Market Fraud: Mumbai Court orders FIR against Madhabi Puri Buch, SEBI officials – Market News

    March 2, 20252 Mins Read


    A special Anti-Corruption court in Mumbai has ordered the registration of a First Information Report (FIR) against top officials of the Securities and Exchange Board of India (SEBI), including former SEBI Chairperson Madhabi Puri Buch, in a case related to alleged stock market fraud and regulatory violations. The order was issued by Special Judge SE Bangar on a petition filed by Thane-based journalist Sapan Shrivastava.

    Market manipulation allegation

    The complaint accuses SEBI officials of facilitating market manipulation and enabling corporate fraud by allowing the listing of a company that did not meet the prescribed norms. The petitioner claims that SEBI’s failure to exercise its statutory duty led to financial fraud, insider trading, and the siphoning of public funds after the listing. Additionally, the Bombay Stock Exchange (BSE) was also implicated in the allegations.

    The complaint names several high-profile individuals, including former SEBI Chairperson Madhabi Puri Buch, Whole Time Members Ashwani Bhatia, Ananth Narayan G, and Kamlesh Chandra Varshney. Additionally, BSE Chairman Pramod Agarwal and CEO Sundararaman Ramamurthy were also listed as respondents. Notably, none of the accused were represented in the court proceedings.

    Judicial findings 

    After reviewing the complaint and supporting documents, Judge Bangar found prima facie evidence of regulatory lapses and collusion, warranting a detailed investigation. The court emphasised that the allegations disclose a cognizable offence, requiring a fair and impartial probe. Consequently, the Anti-Corruption Bureau (ACB), Mumbai, has been directed to register an FIR under relevant provisions of the Indian Penal Code, the Prevention of Corruption Act, and the SEBI Act.

    Recognising the gravity of the allegations, Judge Bangar mandated the ACB to conduct an investigation and submit a status report within 30 days. The court stated that judicial intervention was necessary due to SEBI’s inaction and the potential impact on investor confidence. 





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Why Sprouts Farmers Market Stock Crashed Today

    Stock Market

    Why Did Stock Market Fall Today? Key Factors Behind Sensex, Nifty Decline On October 30 | Markets News

    Stock Market

    Quantum technology is coming to the real world

    Stock Market

    Tokyo auto show highlights technology but Trump’s tariffs loom large

    Stock Market

    Trump-Xi meet to begin shortly; Futures recover in anticipation

    Stock Market

    Utilities Flat on Defensive Bias – Utilities Roundup

    Stock Market
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Mastering Real Estate Investments and Construction Strategies with Andrey Kulakevich – Property Profits Real Estate Podcast

    Property

    Property baron exposed by us in bitter feud with ex-Blyth Spartans owner

    Commodities

    “Headbanging in front of a billion people was a very gratifying experience!” Gojira express their gratitude for being given “the opportunity to represent the Metal community” at the Olympics

    Editors Picks

    Farmers testify about agricultural woes

    February 26, 2025

    9 Misconceptions About Saving Energy At Home That Could Cost You Money

    August 28, 2024

    Is VP candidate Tim Walz good for Bitcoin?

    August 6, 2024

    Palm Beach moves to keep property tax rate unchanged

    July 15, 2025
    What's Hot

    Paiements internationaux simplifiés : découvrez Lync, la plateforme de Waza

    January 22, 2025

    Chicago Utility’s Plan for Aging Natural Gas Pipelines Runs Up Against Energy Transition

    October 30, 2024

    EFAfrica Group Secures $7.2 Million from AgDevCo to Expand Agricultural Leasing in East, Southern Africa

    September 4, 2025
    Our Picks

    L’essor des négociants d’électricité privés en Afrique du Sud accélère la transition énergétique

    March 12, 2025

    Stellantis reportedly planning U.S. investments worth $10-billion after plans to reintroduce flagship models

    October 4, 2025

    Will Indian stock markets crash or bounce back next week? Key insights and trends

    March 15, 2025
    Weekly Top

    As more British retirees opt to spend their later years overseas, the world’s most beautiful, sunny and lavish retirement homes revealed (and they’re MUCH cheaper than the UK)

    October 30, 2025

    SM Investments receives back-to-back 5 Golden Arrow Award

    October 30, 2025

    The Most Topical Issue in Fintech Today

    October 30, 2025
    Editor's Pick

    le dernier groupe du festival se dévoile

    February 11, 2025

    What a Digital Pound Could Mean for UK Property Transactions 

    April 10, 2025

    Brazil expands gold-tracing to combat cross-border smuggling

    September 24, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.