Description
SEBI's Appellate Authority upholds denial of RTI application seeking information about successive nominations in DEMAT accounts, citing strategic confidentiality.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6451 of 2025 filed by Subhash Chandra Agrawal, who sought information about entities’ views on successive nominations in DEMAT accounts. The authority upheld SEBI’s original denial, ruling that the requested information is strategic and confidential in nature, relating to SEBI’s internal regulatory processes.
Key Points
- Appeal filed against SEBI’s denial of RTI application dated June 1, 2025
- Appellant sought names of entities supporting/opposing successive nominations in DEMAT accounts
- SEBI denied information citing exemptions under RTI Act sections 8(1)(a), 8(1)(e), and 8(1)(j)
- Information deemed strategic, confidential, and relating to internal regulatory processes
- Appellate Authority upheld SEBI’s position on confidentiality of regulatory consultation processes
Regulatory Changes
No regulatory changes introduced. This is a procedural order regarding information disclosure under RTI Act.
Compliance Requirements
No new compliance requirements for market participants. This order relates to RTI procedures and information disclosure policies.
Important Dates
- RTI Application filed: June 1, 2025
- SEBI Response: June 25, 2025
- Appeal filed: June 26, 2025
- Appeal Registration: SEBIH/A/E/25/00149
Impact Assessment
This order has minimal market impact as it deals with procedural aspects of information disclosure under RTI Act. It reinforces SEBI’s position that strategic regulatory consultation processes remain confidential to protect the integrity of policy formulation. The ruling maintains existing boundaries between public transparency and regulatory confidentiality in policy development processes.
Impact Justification
Procedural RTI matter with no direct market impact or regulatory changes