Description
SEBI appellate authority dismisses RTI appeal regarding share transfer form revalidation requirements, ruling query seeks opinion rather than information.
Summary
SEBI’s appellate authority dismissed Appeal No. 6495 of 2025 filed by Vasanthu Arasu regarding share transfer form revalidation requirements. The authority ruled that the appellant’s query about whether share transfer forms from 1999 need revalidation by Registrar of Companies constituted seeking opinion/clarification rather than information under RTI Act.
Key Points
- Appellant sought information on revalidating expired share transfer forms from 1999
- CPIO rejected query as seeking clarification/opinion, not information under RTI Act Section 2(f)
- Appellate authority upheld CPIO’s response, citing precedent from Central Information Commission
- RTI Act does not require authorities to create, interpret, or compile information as per applicant’s desire
- CPIO can only communicate information already available on record
Regulatory Changes
No regulatory changes introduced. Decision reinforces existing RTI Act interpretation regarding scope of information obligations.
Compliance Requirements
- RTI applicants must seek actual information rather than opinions or clarifications
- Public authorities not obligated to provide analysis, interpretation, or advice under RTI Act
- Queries seeking guidance should be directed to appropriate specialized authorities (e.g., RTAs for share matters)
Important Dates
- July 13, 2025: Original RTI application filed
- July 25, 2025: CPIO response and appeal filed
- Appeal dismissed (order date not specified)
Impact Assessment
Minimal market impact. Decision clarifies RTI Act scope but does not affect share transfer procedures or investor rights. Investors with similar queries should contact RTAs directly rather than using RTI mechanism.
Impact Justification
Administrative RTI appeal with no market-wide implications or regulatory changes