{"id":6653,"date":"2025-03-03T08:01:00","date_gmt":"2025-03-03T02:31:00","guid":{"rendered":"https:\/\/lawfultalks3.selfst.art\/bombay-hc-to-hear-madhabi-puri-buchs-plea-to-quash-fir-in-alleged-listing-fraud\/"},"modified":"2026-07-22T15:59:19","modified_gmt":"2026-07-22T10:29:19","slug":"bombay-hc-to-hear-madhabi-puri-buchs-plea-to-quash-fir-in-alleged-listing-fraud","status":"publish","type":"post","link":"https:\/\/lawfultalks3.selfst.art\/bombay-hc-to-hear-madhabi-puri-buchs-plea-to-quash-fir-in-alleged-listing-fraud\/","title":{"rendered":"Bombay HC to Hear Madhabi Puri Buch\u2019s Plea to Quash FIR in Alleged Listing Fraud"},"content":{"rendered":"\n<p><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\">On 04.03.2025, the Bombay High Court single bench of <span style=\"font-family:TimesNewRomanPS-BoldMT\"><strong>Justice SG Dige<\/strong><\/span> is expected to hear <span style=\"background-color:#ffffff\">Former Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch&rsquo;s plea to quash an order passed by a Special Court in Mumbai directing the Anti-Corruption Bureau (ACB) to register a case against them in a listing fraud case.<\/span><\/span><\/span><\/p>\n \n \n \n <p style=\"text-align:center\"><\/p>\n \n \n \n <p><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"background-color:#ffffff\">The former SEBI&rsquo;s Chief need to knock on the Bombay High door&rsquo;s arises out of an order passed on 01.03.2025, where the <\/span><span style=\"font-family:TimesNewRomanPS-BoldMT\"><strong><span style=\"background-color:#ffffff\">Special Judge Shashikant Eknathrao Banga<\/span><\/strong><\/span><span style=\"background-color:#ffffff\">r, while considering an application filed by Sapan Shrivastava (47), a journalist by profession, observed that the complaint prima facie reveals the commission of a cognizable offence. Consequently, the court directed the Anti-Corruption Bureau (ACB) to register a First Information Report (FIR) under the applicable provisions of the Indian Penal Code (IPC), the Prevention of Corruption (PC) Act, and the SEBI Act. The ACB has also been instructed to conduct an investigation and submit a report within 30 days.<\/span><\/span><\/span><\/p>\n \n \n \n <p style=\"margin-left:0px; margin-right:0px\"><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"background-color:#ffffff\">The Complainant alleged that Madhabi, in collusion with other officials of SEBI and BSE, facilitated the &quot;fraudulent&quot; listing of a company on the stock exchange and failed to take any action against the company for its alleged misconduct.<\/span><\/span><\/span><\/p>\n \n \n \n <p style=\"margin-left:0px; margin-right:0px\"><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"background-color:#ffffff\">Ultimately, the Special Court clarified that, considering the &quot;gravity of the offence&quot; as revealed in the complaint, it had directed an investigation under Section 156(3) of the Criminal Procedure Code.<\/span><\/span><\/span><\/p>\n \n \n \n <p style=\"margin-left:0px; margin-right:0px\"><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"font-family:TimesNewRomanPS-BoldMT\"><strong><span style=\"background-color:#ffffff\">&quot;<\/span><\/strong><\/span><span style=\"font-family:TimesNewRomanPS-BoldItalicMT\"><strong><em><span style=\"background-color:#ffffff\">There is prima facie evidence of regulatory lapses and collusion, requiring a fair and impartial probe. The inaction by law enforcement and SEBI necessitates judicial intervention under section 156(3) CrPC,&quot;<\/span><\/em><\/strong><\/span> <span style=\"background-color:#ffffff\">the Court observed.<\/span><\/span><\/span><\/p>\n \n \n \n <hr \/>\n \n <p style=\"margin-left:0px; margin-right:0px\"><span style=\"font-size:16px\"><span style=\"font-family:&quot;Times New Roman&quot;\"><span style=\"background-color:#ffffff\">Source: NEWS<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 04.03.2025, the Bombay High Court single bench of Justice SG Dige is expected to hear Former Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch&rsquo;s plea to quash an order passed by a Special Court in Mumbai directing the Anti-Corruption Bureau (ACB) to register a case against them in a listing fraud [&hellip;]<\/p>\n","protected":false},"author":92,"featured_media":8164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-6653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v28.1) - 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