Description
SEBI appellate authority dismisses RTI appeal as requested information regarding RBI regulations for fund raising by business entities does not pertain to SEBI jurisdiction.
Summary
SEBI’s appellate authority dismissed Appeal No. 6504 of 2025 filed by Himanshu Chauhan under the Right to Information Act, 2005. The appellant sought information about RBI regulations for business entities receiving funds on profit-and-loss sharing basis, but SEBI correctly stated such information does not fall under its jurisdiction.
Key Points
- Appeal filed on July 30, 2025 regarding RTI application transferred from RBI on July 1, 2025
- Appellant sought information about permissions required for business entities to receive investor funds on profit-loss sharing basis
- SEBI responded that the queries do not pertain to SEBI and information is not available
- Appellate authority upheld SEBI’s response citing Supreme Court precedent
- RTI Act only provides access to existing information, not obligation to create new information
Regulatory Changes
No regulatory changes announced. This is an administrative appeal decision.
Compliance Requirements
No new compliance requirements. The decision reinforces that public authorities under RTI Act are only required to provide information within their jurisdiction and existing records.
Important Dates
- July 1, 2025: RTI application transferred from RBI to SEBI
- July 25, 2025: SEBI’s response to RTI application
- July 30, 2025: Appeal filed by Himanshu Chauhan
Impact Assessment
Minimal impact as this is an administrative RTI matter with no effect on market operations, trading, or regulatory framework. The decision clarifies jurisdictional boundaries for information requests but does not affect market participants or securities regulation.
Impact Justification
Administrative RTI appeal with no market impact or regulatory changes