SC to Sebi: Let RIL access papers on share buy case
The Supreme Court on Friday directed the Securities and Exchange Board of India (Sebi) to provide Reliance Industries (RIL) certain documents the regulator had relied on in connection with a probe into a case of acquisition of shares by the conglomerate.
A bench headed by Chief Justice of India NV Ramana agreed with RIL’s contention that Sebi’s decision to provide it with only parts of the probe papers amounted to cherry picking.
“There is a dispute about the fact that certain excerpts of the opinion of Justice (Retd.) BN Srikrishna were disclosed to the appellant herein. It is the allegation of the appellant that while the parts which were disclosed,
