Information commission's order on stock exchanges stayed In a setback to private investors, the Delhi High Court Wednesday stayed a Central Information Commission (CIC) order directing authorities to bring the stock exchanges under the purview of the Right to Information (RTI) Act.
Justice B.D. Ahmed stayed the
CIC's June 7 order on a petition by National Stock Exchange (NSE), while issuing notices to the market regulator, Securities Exchange Board of India (SEBI), the union ministry of finance and the
CIC to file their replies.
The NSE had approached the high court, challenging the
CIC's decision to open up the bourses under the new act.
Appearing for the NSE, senior counsel Gopal Subramanium argued that information under the
RTI Act could be sought only from the government organizations or its agencies and not against a company.
India eNews - Information commission's order on stock exchanges stayed