MUMBAI, Aug. 16 -- The Bombay High Court quashed an FIR against former Axis Mutual Fund chief dealer Viresh Gangaram Joshi regarding an alleged front-running racket, citing a legal bar under the Securities and Exchange Board of India (SEBI) Act, 1992. The court ruled, according to Section 26 of the Act, only SEBI or its authorised officers can initiate prosecution for such offences, rendering the police complaint invalid. Joshi had allegedly defrauded 6.6 million investors to the tune of Rs.2.52 lakh crore. The FIR was registered in December 2024 on the basis of a complaint by Soni Parmar, an Antop Hill resident, who alleged that she had suffered financial losses because of fraudulent activities by Joshi. P3...