Description
SEBI Appellate Authority dismisses RTI appeal filed by Nitin Prabhakar Deshpande regarding Morgan Stanley India fraud queries as time barred and clarifies RTI Act scope.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6521 of 2025 filed by Nitin Prabhakar Deshpande as time barred. The appellant sought information regarding alleged financial fraud by Morgan Stanley India during April-June 2024 period but filed the appeal 195+ days after the statutory 30-day deadline.
Key Points
- Appeal filed on August 14, 2025 against January 31, 2025 CPIO response - well beyond 30-day statutory limit
- No request for condoning delay or explanation for late filing provided by appellant
- Appellant’s queries were clarification/opinion seeking rather than information requests under RTI Act
- CPIO correctly responded that queries don’t constitute ‘information’ as defined under Section 2(f) of RTI Act
- Alternative grievance mechanisms (SCORES portal, helpline) were provided to appellant
Regulatory Changes
No regulatory changes introduced. Order reinforces existing RTI Act procedural requirements and scope limitations.
Compliance Requirements
- RTI appeals must be filed within 30 days of receiving CPIO response
- Requests for opinion/clarification don’t qualify as information requests under RTI Act
- Grievances against market entities should use appropriate channels like SCORES portal
Important Dates
- January 31, 2025: CPIO response date
- March 2, 2025: Last permissible date for filing appeal (30 days from response)
- August 14, 2025: Actual appeal filing date
- September 9, 2025: Appeal dismissal order date
Impact Assessment
Minimal market impact. Administrative ruling clarifying RTI Act scope and procedural requirements. Does not affect Morgan Stanley India’s operations or reveal any regulatory action regarding alleged fraud allegations mentioned by appellant.
Impact Justification
Administrative RTI appeal dismissal with limited market impact