Mumbai court orders FIR against ex-SEBI chief Madhabi Puri Buch

The ACB Court was hearing a complaint filed by journalist Sapan Srivastava, who alleged that BSE listed Cals Refineries in 1994 without ensuring compliance with SEBI’s listing regulations. The complaint further claimed that SEBI failed to act against BSE and Cals Refineries, leading to a loss of investor wealth.