More Stories

Informist, Thursday, Sept. 18, 2025

 

NEW DELHI – The Delhi High Court on Thursday held that information regarding an internal probe by the Securities and Exchange Board of India is exempted under Section 8(1)(h) of the Right to Information Act, 2005. The high court dismissed complainant Srishti Rustagi's plea seeking information on SEBI's internal probe on allegations of insider trading in a case related to WABCO India Ltd.

 

With respect to the ongoing investigation, the statutory authorities have given reasons as to why and under what circumstances the disclosure of such information may impede the investigation process, the high court said. The authorities have also said that such disclosure may not only affect confidentiality of the investigation, but may also affect evidence collection and result in unnecessary harm to third parties, the court said. Cumulatively, these reasons are sufficient not to disclose the information sought by the appellant, the court added.

 

The case has its genesis in Rustagi filing a complaint in 2021 to seek a detailed and thorough probe in the matter of offer for sale of equity shares of WABCO India. Rustagi alleged that a major chunk of shares under the offer for sale was allocated to related parties. 

 

Thereafter, through an email by SEBI SCORES, Rustagi was informed about part disposal of her complaint and also forwarding of the complaint with regard to allegations of insider trading to the department concerned for necessary action. Various emails were sent by Rustagi to SEBI seeking the status of the ongoing investigation with respect to her complaint, but to no avail. Consequently, an application under the Right to Information Act was filed to seek information regarding the status of the ongoing internal investigation.  End

 

Reported by Surya Tripathi

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.