Description

RTI appeal regarding information on vanishing companies, FIRs, and associated intermediaries rejected as information not available with SEBI.

Summary

SEBI’s Appellate Authority rejected Appeal No. 6581 of 2025 filed by Naveen Bhatnagar under the Right to Information Act, 2005. The appellant sought information on vanishing companies, FIRs lodged against them, details of associated intermediaries, and enforcement actions taken by SEBI. The CPIO’s response denying the information was upheld as the requested data is not available or maintained by SEBI in the specified format.

Key Points

  • Original RTI application filed on August 25, 2025, seeking information on approximately 14,222 vanishing companies identified as of December 12, 2000
  • CPIO responded on September 12, 2025, stating information not available with SEBI
  • Appeal filed on September 29, 2025 (Reg. No. SEBIH/A/E/25/00265)
  • Appellate Authority upheld CPIO’s response citing that RTI Act provides access only to existing information
  • Supreme Court precedent in Central Board of Secondary Education vs. Aditya Bandopadhyay applied

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 public authorities under RTI Act can only provide information that exists in their records and are not required to create new information or compile data not maintained in the requested format.

Important Dates

  • August 25, 2025: RTI application filed
  • September 12, 2025: CPIO response provided
  • September 29, 2025: Appeal filed
  • October 13, 2025: Appellate Authority order issued

Impact Assessment

This order has no direct market impact. It is an administrative decision on an RTI appeal clarifying the scope of information disclosure obligations under the RTI Act. The order confirms that SEBI is not required to provide information on vanishing companies in formats not maintained by the authority, and reaffirms that enforcement action information is publicly available on SEBI’s website.

Impact Justification

Administrative RTI appeal with no market impact; information request denied as data not maintained by SEBI