SC directs SEBI to provide documents sought by RIL in share acquisition probe


PTI, Aug 5, 2022, 12:07 PM IST

The Supreme Court on Friday directed market regulator, the Securities and Exchange Board of India (SEBI), to give Reliance Industries Ltd (RIL) access to certain documents which have been relied upon by it in its probe into a share acquisition matter.

In a major relief to RIL, a bench headed by Chief Justice N V Ramana said the market regulator has a “duty to act fairly” and asked it to share relied upon documents to the private firm, which claimed that these papers exonerate it.

“The SEBI is a regulator and has a duty to act fairly. It is not to circumvent the rule of law and they have to show fairness. We allow this and direct SEBI to furnish the document sought by RIL,” the CJI said while allowing the appeal of RIL.

The verdict came on an appeal of the RIL which had moved the top court against the judgement of the Bombay High Court. The high court had rejected the RIL’s plea to access documents relied upon by the market regulator. SEBI alleged irregularities in its own share acquisition by RIL during 1994 to 2000 and the case had arisen following a complaint by one S Gurumurthy to the market regulator.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Bantwal: Theft at Shree Mahalingeshwar temple

States not empowered to take over all private properties for distribution to serve common good: SC

Chhattisgarh NAN ‘scam’: FIR against 2 retired IAS officers, former AG

Davangere: MLA Basavantappa returns Rs 1.2 lakh left behind at shop

Related Articles More

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Delhi riots case: HC dismisses plea by Khalid Saifi against attempt to murder charge

States not empowered to take over all private properties for distribution to serve common good: SC

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

MUDA Case: K’taka HC adjourns hearing to November 26

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Union Minister H D Kumaraswamy booked for threatening police officer

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.