The Supreme Court on Friday granted an interim stay on a Delhi High Court ruling that classified the National Stock Exchange (NSE) as a public authority under the Right to Information (RTI) Act. The apex court also stayed a 2007 Central Information Commission order that had previously held stock exchanges perform public functions and thus fall under the RTI Act, according to livemint.com.
A two-judge bench comprising Justice Vikram Nath and Justice Sandeep Mehta issued notice on NSE's appeal against the Delhi High Court decision. The stay provides NSE temporary relief while the appeal is pending. The NSE had challenged the earlier rulings that subjected it to RTI obligations, arguing that it does not qualify as a public authority under the law.
This development is significant as the NSE is preparing for what could be India's largest initial public offering (IPO). The RTI classification would have subjected the exchange to greater transparency and public scrutiny. The Supreme Court's stay temporarily shields NSE from these obligations, potentially affecting regulatory and disclosure norms during the IPO process.
The Supreme Court's interim order was issued on July 31, 2026, with the bench granting protection against both the Delhi High Court ruling and the 2007 CIC order. The case will proceed with further hearings as NSE awaits regulatory approval for its IPO, which remains one of the most closely watched listings in India's capital markets.