SEBI cannot be compelled to Hand over Documents already in Custody of Accused: Calcutta HC Allows Revision Application of SEBI

The Calcutta High Court has ruled that SEBI cannot be compelled to hand over documents already in the custody of the accused, allowing SEBI's revision application. The court overturned a lower court's directive, stating that if the accused already possesses the relevant documents, SEBI is not obligated to re-provide them. This decision clarifies the scope of discovery and production of documents in legal proceedings involving SEBI. It aims to prevent unnecessary procedural delays and ensures that parties do not seek documents they already possess, streamlining the legal process.