Investors' call records: Sebi gets three weeks to file reply - NDTV

NDTV | Reported By: Aastha Maheshwari | Updated On: April 04, 2013 19:53 (IST) Mumbai: The Bombay High Court on Wednesday gave market regulator, the Securities and Exchange Board of India (Sebi), three weeks' time to file a reply in conjunction with a case filed by the Indian Council of Investors. The council had last week moved the Bombay High Court against Sebi seeking to halt the market regulator's move to get call records of investors.   The council says Sebi has been routinely seeking call date records and information like tower locations from telecom operators over the past few years, and contends that the regulator is not authorized to collect such sensitive information while investigating cases and that it jeopardizes individuals' right to privacy.   According to information obtained after a Right to Information application filed by the council, a copy of which has been submitted to the court, Sebi has sought details of 2,327 telephone connections from service providers between January 2009 and July 2010.   Under the Indian Telegraph Act, only certain law enforcement agencies are authorized by the Ministry of Home Affairs for interception, monitoring and collection of call records and tower locations.   However, according to data found after a Right To Information (RTI) application filed by the council, Sebi has sought details of 2,327 telephone connections from service providers between January 2009 and July 2010.   In the past, Sebi has written to the Ministry of Home Affairs for permission to access phone records through agencies already authorized to do so. It had clarified that it did not seek powers to intercept or tap calls, but merely access to existing data records.   The ministry is yet to agree on the issue. For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNE_Nmq_a54ZrMMppj3PpjK7kllhwQ&url=http://profit.ndtv.com/news/market/article-investors-call-records-sebi-gets-three-weeks-to-file-reply-320477

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