India's market regulator and the Bombay Stock Exchange will take appropriate legal action to challenge a Mumbai court order against their officials in relation to an alleged stock market fraud and regulatory violations,

SEBI on Sunday said it will initiate appropriate legal steps to challenge the Mumbai court order, which has allowed launching an FIR against former SEBI chief Madhabi Puri Buch, three current Whole Time Members of SEBI and two officials of the BSE.

A special Anti-Corruption court in Mumbai on Saturday directed the registration of an FIR against top officials of the Securities and Exchange Board of India (SEBI), including former Chairperson Madhabi Puri Buch,

A Mumbai court ordered a First Information Report (FIR) to be registered against some top officials of the Securities and Exchange Board of India (SEBI) including former SEBI Chairperson Madhabi Puri Buch.