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Bombay HC extends interim stay on order directing FIR against ex-Sebi chief

Posting the matter for further hearing on May 7, the HC said the interim relief granted earlier shall continue until further orders

Former Sebi chairperson Madhabi Puri Buch (Express Photo)

The Bombay High Court on Tuesday extended an interim stay on a special PMLA Court order that had directed filing an FIR against six people, including former Sebi chairperson Madhabi Puri Buch, in a case of alleged stock market fraud and regulatory violations.

A single-judge bench of Justice Shivkumar G Dige had on March 4 stayed the March 1 order of a special court designated under the Prevention of Money Laundering Act.

The special court had directed the Anti-Corruption Bureau (ACB), Mumbai, to register an FIR based on a complaint by Dombivali resident Sapan Shrivastava, who alleged that he and his family had suffered losses after investing in Cal Refineries.

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Buch and others had approached the HC against the said order.

“It appears that the special Judge has passed the order mechanically without going into the details and without attributing any specific role to all the applicants, hence order is stayed till the next date,” the HC had observed while staying the special court order

On Tuesday, Justice Dige granted time to the petitioners including Buch to go through affidavit in a reply filed by the complainant. Posting the matter for further hearing on May 7, the HC said the interim relief granted earlier shall continue until further orders.

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