Description
SEBI dismisses RTI appeal by investor seeking land allotment details for PACL investment, confirming information not available with SEBI.
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6519 of 2025 filed by investor Pravila Devi under the Right to Information Act. The appellant sought details about land allegedly allotted against her PACL investment certificate but SEBI confirmed it does not possess such information.
Key Points
- Investor Pravila Devi filed RTI application on August 5, 2025 seeking land allotment details for PACL certificate U259268XXX
- SEBI responded on August 12, 2025 that requested information is not available with the regulator
- Appeal filed on August 13, 2025 claiming incomplete/misleading information was dismissed on September 9, 2025
- Justice R.M. Lodha Committee handles PACL property disposal and investor repayment, not SEBI
- Central Information Commission precedent confirms Justice Lodha Committee is not a “public authority” under RTI Act
Regulatory Changes
No regulatory changes introduced.
Compliance Requirements
No new compliance requirements. Reaffirms existing RTI Act provisions regarding information availability.
Important Dates
- August 5, 2025: RTI application filed
- August 12, 2025: SEBI response provided
- August 13, 2025: Appeal filed
- September 9, 2025: Appeal dismissed
Impact Assessment
Minimal market impact. Individual case clarifying SEBI’s role in PACL matters and RTI information availability. Reinforces that Justice Lodha Committee, not SEBI, manages PACL investor repayment and property disposal processes.
Impact Justification
Individual RTI appeal dismissal with limited market impact