The Bombay High Court stayed the order to register an FIR against former SEBI Chairperson Madhabi Puri Buch and others, citing lack of detail and evidence in the special court's ruling. The complainant has been given four weeks to file a response.

The high Court bench noted that the order was passed mechanically without going into the details and also without attributing any specific role to the accused.

A single judge bench led by Justice Shivkumar Dige stated that the special court's ruling from March 1 was issued “mechanically”.