The SEBI fraud case shook India’s financial world today. On March 2, 2025, a Mumbai court dropped a bomb. It ordered an FIR against Madhabi Puri Buch. She’s the former SEBI Chairperson. Five others got named too.
The charge? Stock market fraud from 1994. Sapan Shrivastava, a Thane reporter, filed it. He claims SEBI let a shady company list. That’s when the trouble began. The court agreed—something’s fishy. Anti-Corruption Bureau in Worli got the job. They’ll dig under IPC and SEBI laws.
Buch led SEBI until last week. Now, she’s in hot water. The SEBI fraud case ties to old claims. Back then, a firm allegedly faked its way onto BSE. Shrivastava says SEBI brass helped. He tried cops first. No luck there. So, he hit the courts.
Judge Shashikant Bangar saw enough proof. He wants answers in 30 days. SEBI’s not happy. They’re fighting back. Called it a “frivolous” move. Said they’ll challenge it legally.
Fallout Hits Markets and Trust
The SEBI fraud case stings investors hard. Sensex already tanked this week. This news adds fuel. X lit up with chatter. Some cheer the FIR. “Finally, justice!” one post said. Others doubt it. “Old case, new drama,” another quipped. Buch faced heat before. Hindenburg’s report last year jabbed her too. Claimed she had Adani ties. She denied it. Now, this piles on.
SEBI says the accused weren’t even there in ‘94. They want a redo. The SEBI fraud case could shift rules. Regulators might tighten up. Investors watch close. Markets hate uncertainty. Tuhin Kanta Pandey’s the new SEBI boss.
He starts with this mess. The SEBI fraud case isn’t just about Buch. It’s about trust. Everyone’s waiting. What’s next?