Description
RTI appeal seeking information about e-auction of ICore property conducted by SEBI on behalf of Justice Talukdar Committee, with SEBI citing fiduciary capacity exemption.
Summary
Appeal No. 6510 of 2025 filed by Sankar Das challenging SEBI’s response to RTI queries about the e-auction of ICore property conducted on February 6, 2025. SEBI refused to provide information citing Section 8(1)(e) exemption as the auction was conducted in fiduciary capacity on behalf of Justice Talukdar One-Man Committee constituted by Calcutta High Court.
Key Points
- Appellant sought information about IC-1 property auction (Mouza Kochpukur, JL No. 02, 101.65 decimals)
- Queries included highest bidder name, final bid amount, deposit status, and investor refund earmarking
- SEBI declined to provide information under Section 8(1)(e) of RTI Act citing fiduciary capacity
- Auction conducted on behalf of Hon’ble Justice (Retd) Talukdar One Man Committee
- SEBI referenced Supreme Court decision in Institute of Chartered Accountants case supporting fiduciary exemption
Regulatory Changes
No regulatory changes announced in this appeal order.
Compliance Requirements
No new compliance requirements specified. Appeal relates to information disclosure obligations under RTI Act.
Important Dates
- July 7, 2025: Original RTI application filed
- August 5, 2025: SEBI response to RTI application
- August 5, 2025: Appeal filed by applicant
- February 6, 2025: Date of ICore property e-auction
Impact Assessment
Limited impact as this is an individual RTI appeal regarding a specific company’s auction process. Establishes precedent for SEBI’s position on information held in fiduciary capacity being exempt from RTI disclosure. May affect transparency expectations for similar auction processes conducted by SEBI on behalf of court-appointed committees.
Impact Justification
Individual RTI appeal with limited market-wide impact, relates to specific company auction process