SEBI refuses to disclose NSE inspection reports under RTI

The Securities and Exchange Board of India has refused to disclose under the RTI Act its inspection reports since 2013 related to functioning of the National Stock Exchange which is mired in controversy resulting from the market regulator’s damning report on alleged irregularities in the functioning of the bourse’s former chiefs.

Denying the information, SEBI responded to RTI activist Subhash Agrawal that the information sought by him pertains to its internal functioning, and disclosure of which may hamper decision making in its supervisory and regulatory role. Taking cover under Section 8(1)(d) of the RTI Act, SEBI said information sought includes commercial confidential information of other entities, the disclosure of which could harm its competitive position.