Description
SEBI appellate authority dismisses RTI appeal seeking clarification on additional 2% Extreme Loss Margin justification and trader support initiatives, ruling queries seek opinion rather than information.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6463 of 2025 filed by Supriya Das, who sought information about the justification for additional 2% Extreme Loss Margin (ELM) on expiry days and SEBI’s trader support initiatives. The authority ruled that the queries sought clarification/opinion rather than factual information as defined under the RTI Act.
Key Points
- Appeal filed on June 30, 2025 against CPIO SEBI Mumbai’s response dated June 30, 2025
- Original RTI application dated June 3, 2025 sought three specific pieces of information
- Appellate Authority upheld CPIO’s decision to refuse information citing queries as opinion-seeking
- Reference made to CIC precedent in Azad Singh vs. CPIO, Oriental Insurance Company Limited case
Regulatory Changes
No regulatory changes announced. This is an administrative decision on RTI compliance.
Compliance Requirements
No new compliance requirements. Confirms that RTI applications seeking opinions or clarifications rather than factual information can be legitimately refused by CPIOs.
Important Dates
- June 3, 2025: Original RTI application filed
- June 30, 2025: CPIO response provided
- June 30, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00160)
- July 2025: Appellate Authority order issued
Impact Assessment
Minimal market impact as this is an administrative RTI matter. The dismissal clarifies the scope of information available under RTI Act but does not affect trading operations, margin requirements, or regulatory policies. The original queries about ELM justification and trader support measures remain unanswered through RTI process.
Impact Justification
Administrative RTI appeal dismissal with no market impact or regulatory changes