Description
Appellate Authority dismisses RTI appeal regarding credit rating agency operations during license suspension, ruling query seeks opinion rather than information.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6475 of 2025 filed by Satish Chandra Chamoli, ruling that his query about credit rating agencies’ ability to operate during license suspension sought opinion/clarification rather than information as defined under the RTI Act.
Key Points
- Appellant sought clarification on whether suspended credit rating agencies can rate entities during suspension period
- SEBI CPIO responded that query was not specific and sought opinion rather than information
- Appellate Authority upheld CPIO’s response, citing that RTI Act doesn’t require providing opinions or clarifications
- Authority referenced Azad Singh vs CPIO case establishing that CPIOs cannot create, interpret or compile information per applicant’s desires
Regulatory Changes
No regulatory changes introduced. Appeal confirms existing RTI Act interpretation regarding information vs opinion requests.
Compliance Requirements
- RTI applicants must seek specific information rather than opinions or clarifications
- CPIOs are not obligated to provide interpretations or compile information under RTI Act
- Credit rating agency suspension guidelines remain available in Master Circular dated May 16, 2024
Important Dates
- May 30, 2025: Original RTI application filed
- June 5, 2025: Application received by SEBI
- June 11, 2025: CPIO response provided
- June 26, 2025: Appeal filed
- July 3, 2025: Appeal received by Appellate Authority
Impact Assessment
Minimal market impact as this is an administrative RTI matter. Reinforces existing boundaries between information requests and opinion-seeking under RTI Act. No operational changes for credit rating agencies or market participants.
Impact Justification
Administrative RTI appeal with no market impact or regulatory changes