Description
RTI appeal by Amber Arunam regarding PACL Ltd. investment refund dismissed as requested information not available with SEBI. Matter handled by Justice R.M. Lodha Committee.
Summary
The Appellate Authority dismissed Appeal No. 6558 of 2025 filed by Amber Arunam under the Right to Information Act, 2005. The appellant sought information regarding PACL Ltd. investment refund and land allotment details for certificate number UXXXXX8 (investment of Rs. 50,000). SEBI’s CPIO informed that the requested information is not available with SEBI. The Appellate Authority upheld the CPIO’s response, noting that disposal of properties and repayment to investors is handled by the Justice (Retd.) R.M. Lodha Committee constituted pursuant to the Supreme Court order dated February 2, 2016.
Key Points
- RTI application filed on August 18, 2025 seeking details of land allotted against PACL certificate UXXXXX8
- CPIO responded on September 09, 2025 that requested information not available with SEBI
- Appeal filed on September 15, 2025 (Reg. No. SEBIH/A/E/25/00244)
- Appellate Authority dismissed appeal on October 09, 2025
- PACL refund matters handled by Justice R.M. Lodha Committee, not SEBI
- Authority cited Central Information Commission precedent: CPIO cannot invent information not in possession
Regulatory Changes
No regulatory changes introduced. This is an administrative order on an RTI appeal.
Compliance Requirements
No new compliance requirements. The order clarifies that:
- PACL-related refund queries should be directed to Justice R.M. Lodha Committee
- Status Reports, FAQs, Press Releases and Public Notices regarding PACL Ltd. are available on SEBI website
Important Dates
- August 18, 2025: RTI application filed
- September 09, 2025: CPIO response provided
- September 15, 2025: First appeal filed
- October 09, 2025: Appellate Authority order dismissing appeal
- February 2, 2016: Supreme Court order constituting Justice R.M. Lodha Committee (reference)
Impact Assessment
Minimal impact. This is an individual RTI appeal order with no broader market implications. The order reiterates existing arrangements where the Justice R.M. Lodha Committee handles PACL investor refunds and property disposal matters under Supreme Court supervision. Investors seeking PACL-related information are directed to publicly available resources on SEBI’s website and the Lodha Committee processes.
Impact Justification
Administrative RTI appeal order with no market-wide impact. Individual investor matter related to PACL refund process handled by separate committee.