904-NMS-1220-15-F4.DOC seems strangely like a government statistic: what it tells us is merely interesting; what it conceals is vital. 20. Are the articles, or any part of them, irrelevant to the occasion or out of context? I do not think so in the least. The “occasion” and the “context” are, in my understanding of the expressions, references to the purpose and intent of the articles. Absent a timely response (and there was not even a holding reply to Ms. Dalal’s queries), both occasion and context presented themselves; and what followed can only be called, I think, fair comment precisely for want of that very response that Dr. Tulzapurkar now extols. Indeed, I would venture to suggest that the so-called response in paragraph 18A of the plaint is itself out of context and now irrelevant to the occasion, which is the present suit. In the plaint itself, a very curious picture is attempted to be portrayed of the NSE as an organization that is, by its own telling of it, incapable of any mistake or any wrongdoing. There are suggestions, for example, that algorithmic trading is regulated by circulars, that there are recommendations of technical advisory committees, that the financial stability report of the RBI is sufficient control over the operations of the NSE and that, there is, therefore, never a question that can be raised against the NSE. This is the distinct impression that one gets from a reading of the plaint and it seems strangely like a claim to the kind of infallibility best left to divinities not mortal institutions; and, as our mythology tells us, even our divinities have their foibles and failings. The NSE expects respect. That is to be earned. It is not to be torn out of the throats of public the NSE is meant to serve. The NSE is after all a public institution and it is in some sense or the other a custodian if not of 20 of 30 ::: Uploaded on - 10/09/2015 ::: Downloaded on - 03/02/2020 18:08:37 :::