A single-judge bench of justice SG Dige asked Maharashtra’s Anti-Corruption Bureau (ACB) to not act on the order until March 4, when the case will be heard by the high court

The Sebi, in a statement on Sunday, said it 'would be initiating appropriate legal steps to challenge this order and remains committed to ensuring due regulatory compliance in all matters'.

The order was issued by Special Judge SE Bangar on a petition filed by a RTI-journalist. The complaint accuses Sebi officials of facilitating market manipulation and enabling corporate fraud by allowing the listing of Cals Refineries, which got liquidated in 2019.