Corporate Laws and Indirect Taxation Laws Practitioner.
The Delhi High Court today stayed its order of bringing stockexchanges within the ambit of the Right to Information Act. A division bench headed by acting Chief Justice Madan B Lokur stayed the operation of a single bench order which had on April 15 held that stock exchanges are “quasi” governmental bodies which are bound to disclose information to the public under the transparency law.
The court passed the order on an appeal filed by National Stock Exchange(NSE) which contended that it cannot be forced to reveal information under the RTI Act as it is a company and the government has no control over it.
That's only an interim order subject to the final outcome of the matter. As it is evident from the perusal of the post under reply prima facie the appellate court has found out some cogent reason to entertain the petition and it is upon the appellant to satisfy what irreparable harm would be caused to it or is there any other plausible reason that this stay be confirmed being absolute. Let's see the final outcome of the matter. By the way thanks a tonne for making all of us aware about the same.