Delhi High Court gives relief to Reliance in insider-trading case

The Delhi High Court has set aside an order of the Chief Information Commission directing the stock market regulator Sebi to share details of a 2007 probe into charges of alleged insider trading involving shares of Reliance Petrochemicals, which later merged with Reliance Industries.

Judge GS Sistani set aside the CIC order on a plea by RIL. The company's lawyer AM Singhvi argued that the CIC had passed the order without hearing the company, against all principles of natural justice.

The judge then remanded the case back to the CIC to decide again after hearing both RIL and the information seeker Arun Kumar Aggarwal, who had obtained the information under the Right to Information Act.