Will take legal steps to challenge it: SEBI on court ordered FIR against Madhabi Buch

After a court ordered an FIR against ex-SEBI chief Madhabi Buch and five other officials over alleged stock market fraud, SEBI said it would initiate legal steps to challenge the order. "Even though these officials weren't holding their respective positions at...relevant point of time, the court allowed the application without issuing any notice...to SEBI to place...facts on record," it added.