Description
RTI appeal dismissed regarding IPO details from March 1993 via Enam Securities, as requested information not maintained by SEBI
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6493 of 2025 filed by Gregory Michael Roche regarding an RTI application seeking information about IPO details from March 1993 submitted via Enam Securities Pvt Ltd. The appeal was dismissed as SEBI does not maintain the requested historical information in its normal course of securities market regulation.
Key Points
- Appellant sought information about IPO applications from March 1993 via Enam Securities
- Information requested included share allotment details, refunds, transfers, and grievance records
- SEBI responded that such information is not maintained in normal course of regulation
- Appeal filed on July 18, 2025, dismissed on August 12, 2025
- Appellate Authority cited Supreme Court precedent that RTI Act only provides access to existing information
Regulatory Changes
No regulatory changes introduced.
Compliance Requirements
No new compliance requirements established.
Important Dates
- June 18, 2025: Original RTI application filed
- July 9, 2025: SEBI’s response to RTI application
- July 18, 2025: Appeal filed
- August 12, 2025: Appeal dismissed
Impact Assessment
This administrative decision has no market impact. It clarifies that SEBI is not required to provide historical information that it does not maintain in its regular records, particularly for transactions from over 30 years ago. The ruling reinforces established RTI principles regarding availability of information.
Impact Justification
Administrative RTI appeal with no market impact or regulatory changes