Description

RTI appeal dismissed as SEBI does not maintain information about Daily Trading Plan proposals or approvals from Citigroup Global Markets India Private Limited.

Summary

SEBI’s Appellate Authority dismissed Appeal No. 6568 of 2025 filed by Arun Kumar Sarkar under the Right to Information Act, 2005. The appellant sought information about proposals and approvals related to Daily Trading Plan by Citigroup Global Markets India Private Limited during January 2024 to May 2025. SEBI responded that such information is not maintained in the normal course of securities market regulation and is therefore not available. The Appellate Authority upheld the CPIO’s response, citing precedents that public authorities cannot provide information they do not possess.

Key Points

  • Appeal filed on September 19, 2025 against CPIO’s response dated September 10, 2025
  • Original RTI application dated August 27, 2025 sought copies of proposals and approvals for Daily Trading Plan by Citigroup
  • SEBI stated the requested information is not maintained in normal course of regulation
  • Appellate Authority cited CIC precedent: Pattipati Rama Murthy vs. CPIO, SEBI (July 8, 2013)
  • Delhi High Court precedent applied: Hansi Rawat v. Punjab National Bank (LPA No.785/2012) - RTI proceedings cannot adjudicate correctness of information
  • Appeal dismissed with no deficiency found in CPIO’s response
  • Order passed by Ruchi Chojer, Appellate Authority under RTI Act

Regulatory Changes

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

Compliance Requirements

No compliance requirements for market participants. This order pertains solely to RTI Act proceedings.

Important Dates

  • August 27, 2025: RTI application filed by appellant
  • September 10, 2025: CPIO response provided
  • September 19, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00251)
  • October 10, 2025: Appeal dismissed by Appellate Authority

Impact Assessment

This order has no direct impact on securities market operations, trading, or compliance obligations. It is a procedural RTI appeal decision affirming that SEBI does not maintain certain information about Daily Trading Plans. The order establishes that RTI proceedings cannot be used to dispute the correctness of information provided by public authorities, consistent with judicial precedents. No action required by market participants, stock exchanges, or intermediaries.

Impact Justification

Administrative RTI appeal order with no market-wide regulatory impact or compliance requirements for market participants