Delhi HC orders SEBI to share 'internal' probe report with accused: 'Prima facie unfair'

• Delhi High Court ruled SEBI must share its internal investigation report with the accused if it forms the basis for prosecution.
• The Court set aside a trial court order that denied disclosure to Siddharth Shankar, an accused in a SEBI complaint.
• Justice Neena Bansal Krishna's ruling emphasized the report's centrality to SEBI's decision-making process for prosecution.
• Withholding such material creates information asymmetry, prejudicing the accused and violating the right to a fair hearing (Article 21).
• The Court clarified that sensitive portions can be redacted, but complete denial of access is not permissible.

Why It Matters: Delhi HC mandates SEBI to disclose probe reports to accused for fair trial, citing 'prima facie unfairness'.