Description

RTI appeal regarding PACL refund rejection dismissed as requested information not available with SEBI. Appellant directed to Justice R.M. Lodha Committee for PACL matters.

Summary

The Appellate Authority under the RTI Act dismissed Appeal No. 6590 of 2025 filed by M N Jinna on October 31, 2025. The appellant had sought information regarding rejection of PACL refund application worth Rs. 22,500, claiming no land allotment was received despite PACL records showing otherwise. SEBI’s CPIO responded that the requested information is not available with SEBI. The Appellate Authority upheld this response and directed the appellant to the Justice (Retd.) R.M. Lodha Committee, which is responsible for PACL property disposal and investor repayment matters.

Key Points

  • Appeal filed against CPIO’s response to RTI application dated September 25, 2025
  • Appellant invested Rs. 22,500 in PACL and refund request was rejected
  • Rejection reason: Land allotment recorded against certificate per PACL data
  • Appellant claims no land allotment or communication was received from PACL
  • SEBI confirmed requested information not available in its records
  • Appeal dismissed as CPIO cannot provide information not in possession
  • Justice R.M. Lodha Committee is the appropriate authority for PACL matters

Regulatory Changes

No regulatory changes introduced by this order.

Compliance Requirements

No new compliance requirements. This is an administrative RTI appeal decision.

Important Dates

  • September 25, 2025: RTI application filed by appellant
  • October 09, 2025: CPIO response provided; Appeal filed (Reg. No. SEBIH/A/E/25/00273)
  • October 31, 2025: Appeal dismissed by Appellate Authority

Impact Assessment

This order has no market impact. It is an individual RTI appeal case related to PACL investor refund matters. The decision clarifies that SEBI does not hold information regarding land allotment status under PACL certificates, and such matters fall under the jurisdiction of the Justice R.M. Lodha Committee, constituted pursuant to the Supreme Court order dated February 2, 2016. The order reiterates that CPIOs can only provide information available in their records and cannot create information for appellants’ benefit, citing precedent from the Central Information Commission.

Impact Justification

Administrative RTI appeal order with no market-wide impact. Relates to individual investor's PACL refund query, not regulatory policy changes.