Mumbai The Supreme Court on Monday issued notice to the Securities and Exchange Board of India (SEBI) in a matter related to Reliance Industries Ltd’s plea seeking certain documents from the regulator. “We have issued notice to SEBI in this matter. We will look into it,” said the bench headed by Justice MR Shah.
The top court had on August 5 directed the regulator to provide necessary documents to Reliance. SEBI had filed a review petition in this matter on September 29.
The notice pertains to Reliance seeking access to certain documents relied upon by SEBI in its probe related to the share acquisition case. SEBI did not entertain RIL’s request for sharing of documents on the ground that under SEBI (Settlement Proceedings) Regulations, the company has no right to seek information from it. The top court rejected the stand of SEBI.
Senior advocate Harish Salve, representing RIL, told on Monday, “The court passed the order on August 5 and we are on November 7. Despite repeated requests, SEBI did not take any action with regard to providing the documents.” Is.” Salve said Sebi said it was not done as review is pending in the apex court.
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