National Stock Exchange covered by RTI Act, rules court
April 15th, 2010 - 9:07 pm ICT by IANSNew Delhi, April 15 (IANS) The Delhi High Court Thursday upheld the decision of the Central Information Commission (CIC) that the National Stock Exchange (NSE) comes under the ambit of the transparency law.
While dismissing the NSE’s plea, Justice Sanjiv Khanna said: “The NSE is a public body and is bound to reveal information under the Right to Information (RTI) Act.”
The court rejected the NSE’s plea that it cannot be forced to disclose information under the transparency law as it is an autonomous body with no government control over it.
The CIC ordered in 2007 that stock exchanges are quasi-governmental bodies and are bound to disclose information to the public under the RTI Act as a rule.
“A stock exchange being a quasi-governmental body working under the statute and exercising statutory powers has to be held to be a public authority under the act,” the CIC said in 2007 while putting it under the purview of the RTI Act.
After this order by the CIC, the NSE approached the high court, which put an interim stay on the CIC order July 4, 2007. On Thursday, the high court dismissed the NSE’s plea while disposing the matter.
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Tags: act rules, ambit, autonomous body, cic, delhi high court, government control, governmental bodies, governmental body, information commission, july 4, national stock exchange, New Delhi, nse, plea, purview, rti act, sanjiv, statutory powers, stock exchanges, transparency