RTI applicant Debashish Nath had sought from the SEBI the number of notices which have been issued against RIL and RNRL for alleged insider trading.
In connection with the RIL, the SEBI informed him that since quasi-judicial proceedings are in progress in this regard the details sought by him cannot be provided as per the exemption clause 8(1)(h) of the RTI which prohibits disclosure of such information.
After examining the contentions of both the parties, Chief Information Commissioner Satyananda Mishra ordered the disclosure of information sought by Nath.
"After carefully considering the facts of the case, we are of the view that the above response of the CPIO was not entirely in order. Even if it is admitted that certain quasi-judicial proceedings were in progress against the relevant group of companies for insider trading in share transfer, at least, the total number of notices issued could have been mentioned," he said. More