After waiting for several years, market regulator Sebi may finally get the right to access telephone call records of persons suspected to be involved in insider trading and other offences.
"We do not want access to the conversations per se, but just the call records. This will help us know the numbers to which calls had been made at the time of the transaction, the frequency, duration and location of the calls," sources said.
The request for accessing telephone call records, which was made to the Finance Ministry by Sebi in 2009, is likely to be approved by the government soon, they added.
The Ministry of Home Affairs is the nodal agency for any such security-sensitive information.
Sources said the call records could become "circumstantial evidence" to prosecute persons involved in insider trading.
The Sebi Board (in its 124th meet held in 2009) felt that "in order to efficiently discharge its mandate, Sebi, at times, requires information from other bodies as well like call records from telecom operators".
Insider trading is dealing in shares on the basis of information which is not public.