Share acquisition case: Let RIL access documents, Supreme Court tells Sebi

'Regulator has a duty to act fairly', says apex court in order that gives relief to the company

The Supreme Court on Friday asked the Securities and Exchange Board of India (Sebi) to give Reliance Industries Ltd access to documents used to investigate a share acquisition matter, saying it was the “duty of the regulator to act fairly”.

Reliance had moved the apex court after the Bombay High Court rejected its petition to get access to the documents Sebi relied upon to charge that there were irregularities when the company bought its own shares between 1994 and 2000.

“Sebi as a regulator has a duty to act fairly. It is not to circumvent the rule of law and has to