As per the case facts a complaint was filed against a company and its directors alleging fraudulent allotment of equity shares in violation of the Companies Act An investigation was ... conducted by the Securities and Exchange Board of India SEBI The High Court passed an interim order and the company appealed to the Supreme Court The question arose whether SEBI could claim privilege over certain material related to the investigation and whether the company should be allowed access to it Finally the Supreme Court's judgment dealt with the principle that when privileged material is deployed in court the opposing party and the court must have an opportunity to ensure that the released material represents the whole of the relevant information to prevent injustice