https://www.taxtmi.com/caselaws?id=784134 Where an investigative report forms the basis of the authority's satisfaction to initiate prosecution, it is a relevant and material document that must ordinarily be disclosed to the person proceeded against to ensure a fair defence. The SEBI investigation report was treated as an intrinsic part of the decision-making process, not a mere internal record, and disclosure was required because relevance and nexus with the action taken govern the duty of supply, not the authority's label. Limited redaction was permissible only for confidential third-party or market-sensitive material. The accused was entitled to the report. en-us Wed, 17 Dec 2025 00:00:00 +0530 Tue, 30 Dec 2025 09:27:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784134 Where an investigative report forms the basis of the authority's satisfaction to initiate prosecution, it is a relevant and material document that must ordinarily be disclosed to the person proceeded against to ensure a fair defence. The SEBI investigation report was treated as an intrinsic part of the decision-making process, not a mere internal record, and disclosure was required because relevance and nexus with the action taken govern the duty of supply, not the authority's label. Limited redaction was permissible only for confidential third-party or market-sensitive material. The accused was entitled to the report. Case-Laws SEBI Wed, 17 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784134