It’s not the first entity tapped by Sebi; Axis Bank Ltd and HDFC Bank Ltd have been issued similar directions. It has set up a clash between Sebi and WhatsApp, with potentially far-reaching implications. WhatsApp has rebuffed Sebi’s request to share user-specific data, citing its privacy policy. This is a new frontier with valid concerns on both sides. Arriving at a modus vivendi between law enforcement and privacy rights will not be easy.

Source: Mint March 08, 2018 18:22 UTC