Description
SEBI's Appellate Authority dismisses RTI appeal seeking information about legacy shares and debentures, as requested information not maintained by SEBI.
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6518 of 2025 filed by Yukti Sharma seeking information about 300 shares and 100 debentures of Jindal Vijaynagar Steel purchased in 1995. The appeal was rejected as SEBI does not maintain such historical shareholding information in its normal course of securities market regulation.
Key Points
- Appellant sought status of legacy Jindal Vijaynagar Steel shares and debentures from 1995
- Shares underwent merger with JSW in 2005 and stock split in 2017
- SEBI clarified it does not maintain individual shareholding records
- Appeal filed after unsuccessful attempts to contact JSW’s registrar KFin Technologies
- Central Information Commission precedent cited supporting SEBI’s position
Regulatory Changes
No regulatory changes announced. This is an administrative RTI matter.
Compliance Requirements
No new compliance requirements. Case reaffirms that SEBI is not obligated to provide information not maintained in its regular operations.
Important Dates
- July 25, 2025: Original RTI application filed
- August 12, 2025: SEBI response and appeal filed
- September 9, 2025: Appeal dismissed
Impact Assessment
Minimal market impact. This administrative decision clarifies SEBI’s RTI obligations regarding historical shareholding data but does not affect market operations or create new regulatory precedents.
Impact Justification
Administrative RTI appeal with no market-wide implications or regulatory changes