The Bombay High Court on Tuesday stayed the Mumbai Sessions Court order over the registration of an FIR case against former Securities and Exchange Board of India (SEBI) chief Madhabi Puri Buch and other officials in connection with alleged stock market fraud and regulatory violations.
In response to SEBI's arguments over the case being frivolous in nature as it pertains to a 1994 incident, the complainant, Sapan Shrivastava, arguing in person, said, "Now they are saying that these officers were not there. But if a murder happened in 1994, and I get to know now, then I will have to go looking for officers from that time."
Shrivastava, a Thane-based journalist, also told the bench that the stock market regulator is supposed to look after investors' interests, adding that he had "filed many RTIs asking about permissions given to many IPOs." "But they look the other way and all IPOs get listed," said Shrivastava.
Source: India Today