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Bombay High Court stays police case against ex-SEBI chief Madhabi Buch in market fraud case

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Bombay High Court stays case against ex-SEBI chief Madhabi Buch

The Bombay High Court on Tuesday stayed a special court’s order directing a police case against former SEBI chief Madhabi Puri Buch and five others in connection with an alleged market fraud and regulatory violations case.

A single-judge bench of Justice Shivkumar Dige ruled that the lower court’s March 1 order had been issued without examining details or assigning specific roles to the accused. The court has given four weeks for the complainant, journalist Sapan Shrivastava, to file his affidavit in response to the petitions filed by the accused.

Background of the case

The case pertains to allegations of fraud during the 1994 listing of a company on the Bombay Stock Exchange (BSE). The special court had directed the Anti-Corruption Bureau (ACB) to register a case based on a complaint alleging financial fraud, regulatory lapses, and corruption. The court observed that there was prima facie evidence warranting an investigation and cited law enforcement inaction as a reason for judicial intervention.

Those accused include Madhabi Puri Buch, along with SEBI’s three full-time directors—Ashwani Bhatia, Ananth Narayan, and Kamlesh Chandra Varshney—BSE Managing Director and CEO Ramamurthy, and its ex-chairman Pramod Agarwal.

High Court’s intervention

On Monday, the High Court agreed to an urgent hearing of the case and directed the ACB not to take any action until the matter was heard. During the proceedings, Solicitor-General Tushar Mehta, representing SEBI officials, argued that the special court’s order was erroneous and lacked jurisdiction. The defense also contended that the complainant had a history of filing frivolous cases, with previous applications being dismissed and penalized.

SEBI issued a statement asserting its commitment to regulatory compliance and announced plans to take legal steps to challenge the order. Meanwhile, the BSE termed the reporter’s allegations as “frivolous and vexatious.”

With the High Court’s stay in place, the matter will now be reassessed over the next four weeks based on the complainant’s affidavit.

India News

PM Modi pays tribute to Atal Bihari Vajpayee at Sadaiv Atal, says leadership is defined by conduct

PM Modi paid tribute to Atal Bihari Vajpayee at Sadaiv Atal, saying true leadership is defined by conduct and values, not by position.

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PM Modi pays tribute to Atal Bihari Vajpayee at Sadaiv Atal, says leadership is defined by conduct

Prime Minister Narendra Modi on Thursday paid floral tributes to former Prime Minister Atal Bihari Vajpayee at the ‘Sadaiv Atal’ memorial in New Delhi on the occasion of his 101st birth anniversary. Remembering Vajpayee’s legacy, the Prime Minister said that true leadership is not established by position, but by conduct.

Several dignitaries were present at the memorial to pay homage to the former Prime Minister, who remains one of the most respected figures in Indian politics.

PM Modi remembers Vajpayee’s conduct and values

In a message shared on social media platform X, Prime Minister Modi described Atal Bihari Vajpayee as a statesman whose behaviour, dignity and unwavering commitment to national interest set a benchmark for Indian politics. He said Vajpayee’s life continues to inspire the nation and highlights that leadership is determined by character rather than authority.

The Prime Minister also shared a Sanskrit verse, noting that the actions of great leaders guide society, and said this principle was clearly reflected throughout Vajpayee’s public life.

‘Nation always came first for Atal ji’

Prime Minister Modi further said that Vajpayee’s birth anniversary is an opportunity for everyone to draw inspiration from his life. He highlighted Vajpayee’s conduct, grace, ideological firmness and resolve to place the nation’s interest above all else as an ideal standard for public life.

Through his life and work, Vajpayee demonstrated that excellence and greatness are shaped by values and conduct, not merely by holding office, the Prime Minister said. The remarks were shared with inputs from media.

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Cried over Gaza, not a word on Bangladesh: Yogi Adityanath attacks opposition in UP Assembly

Yogi Adityanath criticised the opposition in the UP Assembly, accusing them of selective outrage over Gaza while remaining silent on violence against Hindus in Bangladesh.

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Yogi Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday launched a sharp attack on the Opposition during proceedings in the State Assembly, accusing rival parties of indulging in selective outrage and appeasement politics while remaining silent on incidents involving Hindus in neighbouring countries, particularly Bangladesh.

Referring to recent incidents across the border, the Chief Minister said the Opposition raises its voice on international issues selectively but avoids speaking out when minorities, especially Hindus, are targeted in nearby nations.

“You shed tears over developments in Gaza, but not a single word comes out when a Dalit youth is killed in Bangladesh,” Adityanath said in the Assembly, alleging that such silence exposes the Opposition’s political priorities.

The Chief Minister further claimed that incidents of violence against Hindus would not have occurred had Pakistan and Bangladesh not been created, reiterating that issues are often viewed through the prism of vote bank politics. He said candle marches are organised for global events, but killings of Hindus in Pakistan or Bangladesh do not evoke similar responses.

Adityanath also called for a condemnation resolution in the Assembly, stating that it should ideally come from the Leader of the Opposition. He said such a resolution should clearly condemn the killing and convey a warning to the Bangladesh government.

Allegations over illegal immigration

Targeting the Opposition on the issue of illegal immigration, the Chief Minister alleged that they support Bangladeshi nationals and Rohingyas. He claimed that when authorities take action to expel illegal immigrants, Opposition leaders come out in their defence, alleging that many of them have been facilitated with voter registrations and Aadhaar cards.

Meanwhile, tensions between India and Bangladesh have been visible following recent developments. India summoned the Bangladesh High Commissioner for the second time in a week amid concerns arising from incidents in the neighbouring country.

The summons came in the backdrop of protests in Bangladesh following the killing of student leader Sharif Osman Hadi and the lynching of Dipu Chandra Das in separate incidents. Dipu Das, a 27-year-old youth from Mymensingh district, was beaten to death by a mob over alleged blasphemy on December 18, and his body was later set on fire, triggering widespread outrage.

The Interim Government of Bangladesh condemned the incident. Education Adviser C R Abrar visited the bereaved family on behalf of the government, expressed condolences, and assured them of financial and welfare assistance. The Office of the Chief Adviser also reiterated its resolve to protect all citizens and ensure justice in the case.

The killing has once again raised concerns at the international level over the safety and security of minorities in Bangladesh, with minority groups demanding strict action against those responsible.

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Christmas 2025 wishes for WhatsApp and Instagram status to share joy and warmth

From faith and kindness to love and joy, here are simple Christmas 2025 wishes you can use as WhatsApp and Instagram status messages.

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Merry christmas

As Christmas 2025 is being celebrated across the world, people are marking the occasion by sharing warm messages with family, friends and loved ones. The festival commemorates the birth of Jesus Christ and is observed as a time of faith, kindness and togetherness. Along with prayers, gifts and festive meals, social media platforms like WhatsApp and Instagram have become popular spaces for expressing Christmas greetings.

Christmas is traditionally associated with reflecting God’s love through generosity and compassion, while also strengthening bonds with close ones. Many people choose short, meaningful lines as their social media status to capture the spirit of the day and convey goodwill.

Here is a curated list of loving Christmas 2025 wishes that can be used as WhatsApp or Instagram status messages on the joyful occasion:

  1. Merry Christmas! May your day be filled with love, laughter and your favourite moments.
  2. Wishing you a Christmas as bright and cheerful as your smile.
  3. May your heart be full of joy and your home be filled with love this Christmas.
  4. Sending warm Christmas wishes with a touch of festive magic.
  5. Merry Christmas! May peace and happiness surround you today.
  6. It’s the most wonderful time of the year. Wishing you a Merry Christmas.
  7. May the spirit of Christmas bring love to your heart and warmth to your home.
  8. Wishing you a Christmas that is merry, bright and full of cheer.
  9. May your Christmas be rich with laughter, love and cherished traditions.
  10. Sending love, joy and the warmest Christmas wishes your way.
  11. Merry Christmas! Celebrate the day with family, friends and good food.
  12. Wishing you a Christmas filled with magic, wonder and joy.
  13. May the joy of Christmas stay with you throughout the year.
  14. Wishing you a Christmas as special as you are.
  15. Merry Christmas! Wishing happiness and good fortune always.

These short messages reflect the essence of Christmas 2025 and can be easily shared as status updates to spread positivity and festive warmth.

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