Mumbai, Mar 4 (Reporter) The Bombay High Court on Tuesday stayed operation of order of a special court, directing the city police to register FIR (first information report) against former chairperson of Securities and Exchange Board of India (SEBI), Madhabi Puri Buch, along with five others, for their alleged involvement in stock market fraud case, till four weeks. A bench, headed by single judge Justice Shivkumar Dige, passed an order during the hearing of the plea moved by Buch and three current SEBI whole-time directors—Ashwani Bhatia, Ananth Narayan G and Kamlesh Chandra Varshney—as well as two BSE officials, managing director and CEO Sundararaman Ramamurthy, and former chairman and public interest director Pramod Agarwal. The petitions sought quashing of the special court’s order, which had instructed the Anti-Corruption Bureau (ACB) to register an FIR over alleged financial fraud linked to the 1994 listing of a company on the BSE. While granting stay on the lower court's order, the bench directed complainant Sapan Shrivastava (based upon whose complaint the special court issued directive) to file an affidavit in response to the petitions within four weeks' time. The bench in its order held that the special court had issued its order mechanically without examining the details or assigning specific roles to the accused. The court further observed that the special court’s March one order lacked detailed reasoning. “Hence, the order is stayed till the next hearing," the judge added...////...