Description
SEBI dismisses RTI appeal seeking standard operating procedures for investor complaints, citing internal function exemption.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6456 of 2025 filed by Nitin Goradia, who sought access to SEBI’s standard operating procedures for handling investor complaints through SCORES platform. The appeal was rejected on grounds that the requested information pertains to SEBI’s internal functioning and is exempt under Section 8(1)(a) of the RTI Act.
Key Points
- Appellant requested SEBI’s SOP for handling investor complaints filed through SCORES and deviation reporting policy
- SEBI denied the request citing exemption under Section 8(1)(a) of RTI Act for internal functions
- Appellant challenged the response claiming incomplete/misleading information
- Appellate Authority upheld SEBI’s decision, confirming the strategic nature of internal procedures
- Supreme Court precedent cited emphasizing balance between transparency and efficient operation
Regulatory Changes
No regulatory changes introduced. This is an administrative decision on information disclosure under RTI Act.
Compliance Requirements
No new compliance requirements for market participants. Decision only affects RTI information disclosure practices.
Important Dates
- RTI Application Filed: June 18, 2025
- SEBI Response: June 26, 2025
- Appeal Filed: June 27, 2025 (Reg. No. SEBIH/A/E/25/00154)
- Appeal Decision: July 22, 2025
Impact Assessment
Minimal market impact as this is purely an administrative RTI matter. The decision reinforces SEBI’s position on protecting internal operational procedures from public disclosure while maintaining transparency in other areas. No effect on investor protection mechanisms or market operations.
Impact Justification
Administrative RTI appeal with no market impact or regulatory changes affecting trading or compliance