Now,NSE under RTI ambit

The court upheld the decision of the CIC which had declared the stock exchange as a public authority. The Central Information Commission had in 2007 held that stock exchanges are “quasi” governmental bodies which are bound to disclose information to the public under the Right to Information Act.

“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 Commission had said while directing the NSE to put in place a mechanism for the purpose.

The NSE then approached the Delhi High Court,which had on July Four,2007,stayed the CIC order.

Contending that it is an independent organisation and registered as a company,the stock exchange had submitted that it cannot be forced to comply with the transparency law as a private organisation and that it cannot be placed under the ambit of Act.