Description
RTI appeal dismissed as queries sought clarification/opinion rather than information under RTI Act regarding corruption complaints and NBFC rules.
Summary
Appeal No. 6505 of 2025 filed by Vikas Jain against CPIO, SEBI was dismissed as the queries sought clarification/opinion rather than information under the RTI Act. The appellant requested rules regarding corruption complaints against CMDs of listed companies, IPO subscription data publishing, fund siphoning by NBFC borrowers, and vigilance department functions.
Key Points
- Appeal filed on July 31, 2025 against CPIO’s response dated July 31, 2025
- Original RTI application filed on July 2, 2025
- SEBI clarified that Rules are made by Central Government under Section 29 of SEBI Act, 1992
- SEBI frames Regulations under Section 30 of SEBI Act
- Queries were deemed as seeking clarification/opinion, not information under RTI Act
- Reference made to precedent case Mr. Mahendra Kumar Mehta vs. CPIO, SEBI (April 12, 2021)
Regulatory Changes
No regulatory changes announced. Appeal was dismissed on procedural grounds.
Compliance Requirements
- RTI applications must seek ‘information’ as defined under Section 2(f) of RTI Act
- Requests for clarification, opinion or interpretation are not covered under RTI Act
- Complaints against listed entities can be filed on SCORES portal
Important Dates
- July 2, 2025: Original RTI application filed
- July 31, 2025: CPIO response and appeal filed
- Appeal registration: SEBIH/A/E/25/00195
Impact Assessment
Minimal impact as this is an administrative decision clarifying the scope of RTI Act. No changes to market operations, compliance requirements, or regulatory framework for listed companies or NBFCs.
Impact Justification
Administrative RTI appeal with no market impact or regulatory changes