The Securities and Exchange Board of India (SEBI) announced on Sunday that it would take legal steps to challenge a Mumbai court order directing the registration of a First Information Report (FIR) against its former Chairperson Madhabi Puri Buch, three serving whole-time members, and two officials from the Bombay Stock Exchange (BSE), news agency ANI reported.

A special court in Mumbai ordered the FIR in connection with alleged financial fraud, regulatory violations, and corruption.