Description

RTI appeal dismissed as queries sought clarification/opinion rather than information under RTI Act, and data collation would disproportionately divert SEBI resources.

Summary

SEBI’s Appellate Authority dismissed Appeal No. 6576 of 2025 filed by Akash Parab against the CPIO’s response to his RTI application dated September 17, 2025. The appellant sought information about a purported ‘PhD Court’, advocate payments by SEBI in RTI matters over the last 5 years, and related circulars. The Appellate Authority upheld the CPIO’s decision that queries seeking clarification, opinion, or confirmation do not constitute ‘information’ under Section 2(f) of the RTI Act, and that collating advocate payment details would disproportionately divert SEBI’s resources under Section 7(9) of the RTI Act.

Key Points

  • RTI application filed on September 17, 2025, seeking information about alleged ‘PhD Court’ and advocate payments
  • CPIO responded on September 26, 2025, stating queries sought clarification/opinion, not information under RTI Act
  • Appeal filed on September 26, 2025 (Reg. No. SEBIH/A/E/25/00259) claiming incomplete/misleading information
  • Appellate Authority confirmed queries requesting clarification, opinion, or confirmation are not ‘information’ under Section 2(f) of RTI Act
  • Collating advocate payment data from multiple files would disproportionately divert SEBI resources per Section 7(9)
  • CPIO directed appellant to SEBI’s Annual Statement of Accounts on website for expense details
  • Reliance placed on Azad Singh vs. CPIO, Oriental Insurance Company Limited (CIC order dated March 23, 2021)

Regulatory Changes

No regulatory changes introduced. This is an administrative order on an RTI appeal.

Compliance Requirements

No compliance requirements for market participants. This order pertains to RTI Act procedures and does not impose obligations on securities market entities.

Important Dates

  • September 17, 2025: RTI application filed
  • September 26, 2025: CPIO response issued
  • September 26, 2025: Appeal filed
  • October 10, 2025: Appellate Authority order date

Impact Assessment

This order has no impact on securities markets, trading operations, listed companies, or market participants. It is purely an administrative decision regarding the scope of information disclosure under the RTI Act. The order clarifies that RTI applications cannot be used to seek opinions, clarifications, or confirmations from SEBI, and that requests requiring disproportionate resource diversion may be declined under Section 7(9) of the RTI Act.

Impact Justification

Administrative RTI appeal order with no market impact or regulatory changes affecting trading, listing, or compliance requirements for market participants.