Description
SEBI appellate authority dismisses RTI appeal seeking information about PACL investment refunds, confirming information not available with SEBI.
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6479 of 2025 filed by Rashmi Varshney under the RTI Act. The appellant sought information about PACL investment refund status and land allotment details. SEBI confirmed the requested information is not available with the regulator, and directed the appellant to the Justice R.M. Lodha Committee responsible for PACL matter disposal.
Key Points
- Appellant sought refund status for three PACL certificates totaling Rs. 40,000
- Requested details about allegedly allotted land for one certificate
- SEBI confirmed it does not possess the requested PACL-related information
- Appeal dismissed as SEBI cannot provide information it doesn’t have
- Matter falls under Justice R.M. Lodha Committee’s jurisdiction
Regulatory Changes
No regulatory changes introduced.
Compliance Requirements
No new compliance requirements for market participants.
Important Dates
- RTI application filed: July 07, 2025
- SEBI response: July 08, 2025
- Appeal filed: July 09, 2025
- Appeal decision: August 05, 2025
Impact Assessment
Minimal market impact. This is an individual investor case clarifying SEBI’s role in PACL matters. Confirms that PACL-related refund and property matters are handled by the Supreme Court-appointed Justice R.M. Lodha Committee, not SEBI.
Impact Justification
Individual RTI appeal case with no broader regulatory implications or market impact