Bombay High Court Stays Case Against Ex-SEBI Chief Buch; Adityanath Admits Playing Down News of Stampede; Is All Okay Between BJP and Nitish Kumar?

A newsletter from The Wire | Founded by Tanweer Alam, Sidharth Bhatia, Pratik Kanjilal, Seema Chishti, Sushant Singh, MK Venu, and Siddharth Varadarajan | Contributing writer: Kalrav Joshi, with additional inputs by Anirudh SK

---

Dear readers,

If you like our work and want to support us then do subscribe.

Please click on the following link to make a payment and start or renew your subscription - https://rzp.io/rzp/the-india-cable

1. Please give us at least up to 2 business days to activate/upgrade/renew your subscription

2. These are one-time payments and there will be no auto-renewal

Over to Sidharth Bhatia for today’s Cable

---

Snapshot of the day

March 4, 2025

Sidharth Bhatia

A single-judge bench of the Bombay high court comprising Justice Shivkumar Dige stayed a special Anti-Corruption Bureau court’s order directing that a case be registered against former SEBI chairwoman Madhabi Puri Buch, three whole-time directors of the market regulator as well as two Bombay Stock Exchange officials, finding that the special court judge had passed his order ‘mechanically’, PTI reports. The complainant in the case alleged that the officials concerned did not take action with regard to the listing of a company in 1994 in contravention of regulatory names, which he said caused market manipulation and fraud. The special court judge said his allegations ‘prima facie’ disclosed a cognisable offence; SEBI called the complainant a “frivolous and habitual litigant”.

Uttar Pradesh Chief Minister Adityanath on Monday claimed that his government did not allow the stampede at the Maha Kumbh site in Prayagraj on January 29 to be highlighted