Description
Appeal dismissed regarding RTI application seeking information about PACL investor refund status and processing timelines.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6508 of 2025 filed by Gaurav seeking information about PACL investor refund statistics and processing status. The appeal was dismissed as SEBI confirmed it does not possess the requested information, which is managed by the Justice R.M. Lodha Committee under Supreme Court orders.
Key Points
- Appellant sought detailed information about PACL refund applications, amounts disbursed, pending cases, and processing timelines
- SEBI responded that the requested information is not available with the regulator
- Appeal dismissed as SEBI cannot provide information it does not possess
- Justice R.M. Lodha Committee is responsible for PACL property disposal and investor repayments
- Relevant PACL information already available on SEBI website through status reports and press releases
Regulatory Changes
No regulatory changes introduced through this order.
Compliance Requirements
No new compliance requirements established.
Important Dates
- July 22, 2025: Original RTI application filed
- August 01, 2025: SEBI’s response to RTI application
- August 04, 2025: Appeal filed
- August 21, 2025: Appeal dismissed
Impact Assessment
Minimal market impact as this is an administrative matter regarding information access. The order clarifies the division of responsibilities between SEBI and the Lodha Committee in PACL matters, with no effect on ongoing market operations or investor protections.
Impact Justification
Administrative RTI appeal with no direct market impact or regulatory changes