The High Court, presided over by Justice Shivkumar Dige, found that the special court had issued its order without detailing any specific roles for the accused.

A single-judge bench of justice SG Dige on Tuesday found flaws in the order passed by the special court, saying it appears to have been “passed mechanically”

In a big relief to former SEBI chairperson Madhabi Puri Buch, other officials of the market regulator, and the current CEO and chairman of BSE, the Bombay High Court on Tuesday stayed a special court order directing the Anti Corruption Bureau (ACB) to register an FIR against them in a matter related to the alleged illegal listing of a company back in 1994.