A division bench of Justices B P Dharmadhikari and S V Kotwal also stayed a show cause notice issued on November 2 this year by the CIC to former RBI governor Urjit Patel for non-disclosure of the information sought and for defiance of its orders.
The RBI had petitioned the high court last month challenging orders passed by the CIC directing it to disclose the bad debt details of defaulters worth more than Rs 10 billion at the beginning and those worth Rs 5 billion or less at a later stage.
The notice was issued after the RBI failed to give the list.
The commission asked Patel to explain why maximum penalty should not be imposed on him.
On November 16, the CIC once again asked the RBI to submit the list and also the previous RBI Governor Raghuram Rajan's letter on bad loans.
Senior counsel Venkatesh Dhond, appearing for RBI, told the high court Friday that the CIC order has been passed without giving a hearing to RBI.
"Information of such nature if disclosed could harm the national economy. In such situation, the CIC order and the impugned notice issued on November 2 are ex facie illegal, arbitrary and unsustainable," RBI said in its petition.
The bench, after hearing brief arguments in the case, issued notice to CIC and posted the matter for further hearing on April 10.
"Ad-interim relief sought in the petition for staying the operation, effect, finishings and other conclusions of the respondent (CIC) is granted," the court said.