Description
Appellate Authority upholds SEBI's response that PACL land allotment information is not available with SEBI, directing appellant to Justice R.M. Lodha Committee.
Summary
The SEBI Appellate Authority dismissed Appeal No. 6481 of 2025 filed by Rajbala regarding her RTI request for PACL certificate land allotment details. The Authority upheld SEBI’s response that the requested information is not available with SEBI and directed the appellant to approach the Justice R.M. Lodha Committee, which handles PACL property disposal and investor repayments.
Key Points
- Appellant sought details of land allotment for PACL certificate number U00719XXX including survey numbers, allotment dates, and supporting documents
- SEBI responded that the requested information is not available with them
- Appellate Authority found no deficiency in SEBI’s response, citing CIC precedent that authorities cannot invent information they don’t possess
- Justice R.M. Lodha Committee is the appropriate authority for PACL-related matters as per Supreme Court order dated February 2, 2016
Regulatory Changes
No regulatory changes introduced.
Compliance Requirements
- RTI applicants seeking PACL-related information should approach the Justice R.M. Lodha Committee rather than SEBI
- SEBI has provided PACL-related information on its website including public notices, press releases, status reports, and FAQs
Important Dates
- RTI Application: June 12, 2025
- SEBI Response: June 18, 2025
- Appeal Filed: July 10, 2025 (Reg. No. SEBIH/A/E/25/00176)
Impact Assessment
This decision has minimal market impact as it relates to an individual RTI request. It clarifies the jurisdictional boundaries between SEBI and the Lodha Committee for PACL-related matters, reinforcing that property disposal and investor repayment responsibilities lie with the Committee established under Supreme Court orders.
Impact Justification
Individual RTI appeal with no market-wide regulatory impact