The Supreme Court of India stayed a Delhi High Court order that declared the National Stock Exchange of India (NSEI) a public authority [1].
This decision determines whether one of India's largest financial institutions must disclose internal information to citizens under the Right to Information (RTI) Act. If the NSEI is classified as a public authority, it would be legally required to answer queries from the public regarding its operations and governance.
On July 31, 2026, a bench consisting of two judges, Justices Vikram Nath and Sandeep Mehta, issued the stay [1], [2]. The court acted upon an appeal filed by the NSEI, which challenged the lower court's classification. The Supreme Court issued a notice on the appeal and requested responses from the Central Information Commission (CIC) and other involved respondents [1].
The legal dispute centers on the definition of a public authority. Under the RTI Act, citizens can only enforce their right to request information from entities that meet this specific legal designation [3]. The Delhi High Court had previously ruled that the NSEI fit this description, but the Supreme Court has now paused that mandate pending a full hearing.
The court has listed the matter for further hearing after four weeks [1]. Until a final decision is reached, the NSEI is not required to comply with the RTI requirements imposed by the High Court's previous ruling.
Justices Nath and Mehta are overseeing the process to determine if the exchange's functions and funding qualify it as a public entity or a private corporation [1].
“The Supreme Court on Friday stayed a Delhi High Court order which held that the National Stock Exchange of India (NSEI) is a 'public authority'”
This stay represents a temporary victory for the NSEI in its effort to maintain operational privacy. The final ruling will set a significant precedent for how the RTI Act applies to hybrid financial entities that perform public functions but operate as corporate bodies, potentially affecting transparency standards across India's financial markets.
