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of The HC upheld the CIC's decision exempting SEBI from disclosing information held in fiduciary capacity under Section 8(1)(e) of the RTI Act concerning queries on appointment policies and related documents (Queries 1 and 2). However, the Court set aside the CIC's order on Queries 3, 4, and 5, which involved personal information of candidates and annual inspection reports, directing remand to the CPIO for reconsideration strictly in compliance with Section 11's mandatory third-party consultation procedure. The Court emphasized the necessity to balance transparency with privacy and commercial confidentiality, rejecting disclosure without following prescribed safeguards. The CIC's directions on other queries remained unaltered. This ruling reinforces the procedural rigor required under the RTI Act when handling third-party information and affirms SEBI's fiduciary obligations while ensuring public interest is not undermined.
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