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Reliance Industries Limited (RIL) has moved Supreme Court against a Bombay High Court order dismissing its plea seeking disclosure of documents that Security Exchange Board of India (SEBI) relied upon, in order to investigate against RIL, Economic Times reported. 

The matter pertains to an Complaint filed by Journalist S Gurumurthy to SEBI over the alleged irregularities in Capital Market during 1994 to 2000. In furtherance to this, SEBI moved special SEBI court seeking direction to initiate proceedings against RIL in 2020, but the same rejected on the ground of delay in filing application.

However, SEBI challenged the same before Bombay High Court, wherein RIL, through an interim application sought direction to supply documents on which the SEBI had relied. This which was dismissed by the High Court stating that, “At this stage, the prayer sought for in the interim application cannot be considered without hearing the main revision application."

RIL had sought for the following documents:

• Brief for opinion/case for opinion prepared by SEBI for obtaining further written opinion of Retired Justice BN Srikrishna
• Revised written opinion issued by Justice Srikrishna
• Report of YH Malegam, chartered accountant

It has alleged that the SEBI cannot suppress the documents.

[Source: All inputs from Economic Times]