Description

RTI appeal dismissed regarding PACL refund status and land allotment details. Information not available with SEBI; matter under Justice R.M. Lodha Committee.

Summary

SEBI’s Appellate Authority dismissed Appeal No. 6595 of 2025 filed by Sharda Jangir under the Right to Information Act, 2005. The appellant sought information regarding PACL certificate refund status and details of alleged land allotment. 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 disposal of properties and investor repayment under Supreme Court orders.

Key Points

  • RTI application filed on September 16, 2025 seeking PACL refund and land allotment details
  • Appellant invested Rs. 30,000 in PACL (certificates U11010xxxx) and applied for refund through www.sebipaclrefund.co.in
  • Refund application showed status that land was allotted, which appellant denies receiving
  • CPIO responded on September 19, 2025 that requested information not available with SEBI
  • Appeal filed on October 16, 2025 (Reg. No. SEBIH/A/E/25/00278) claiming refusal of information
  • Appellate Authority dismissed appeal on November 4, 2025

Regulatory Changes

No regulatory changes introduced by this order.

Compliance Requirements

No new compliance requirements. The order reiterates that:

  • SEBI can only provide information available in its records
  • PACL-related matters are under the jurisdiction of the Justice R.M. Lodha Committee
  • Details available on SEBI website include Public Notices, Press Releases, Status Reports, and FAQs

Important Dates

  • September 16, 2025: RTI application filed
  • September 19, 2025: CPIO response provided
  • October 16, 2025: Appeal filed
  • November 4, 2025: Appeal dismissed by Appellate Authority

Impact Assessment

This order has minimal market impact as it pertains to an individual investor’s RTI request regarding the PACL matter. The decision reinforces that SEBI’s role in PACL refunds is limited, with the Justice R.M. Lodha Committee (constituted pursuant to Supreme Court order dated February 2, 2016) holding primary responsibility for property disposal and investor repayment. The order affirms the principle established by the Central Information Commission that CPIOs cannot provide information not in their possession.

Impact Justification

Individual RTI appeal regarding PACL refund matter with no broad market or regulatory impact