Madhabi Puri Buch, BSE MD Sundararaman Ramamurthy and the others moved the high court, seeking to quash the March 1 order passed by a special court.

The Bombay High Court is set to hear the pleas of the former Sebi chief and others on March 4, the Anti-Corruption Bureau will not proceed with the special court order until then, reported PTI. The development comes after the market regulator informed to initiate legal action against the court order alleging ex-SEBI Chief Madhabi Puri Buch and five others of stock market fraud and regulatory violations.

The Bombay High Court delayed an FIR against former SEBI chair Madhabi Puri Buch and others concerning alleged 1994 stock market fraud. Accused officials denied charges, seeking dismissal of a special court order they claim lacks jurisdiction.