Description
RTI appeal regarding shareholding pattern and financial information of Delhi Stock Exchange Ltd. (DSE) and DSE Financial Services Ltd. (DSSL) dismissed as information not maintained by SEBI.
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6597 of 2025 filed by Mani Bhushan Pankaj under the Right to Information Act, 2005. The appellant sought certified copies of shareholding patterns, board resolutions, audited financial statements, and other information related to Delhi Stock Exchange Ltd. (DSE) and DSE Financial Services Ltd. (DSSL) from FY 2009-10 onwards. SEBI’s CPIO responded that the requested information is not maintained by SEBI in the normal course of regulation and is therefore not available. The Appellate Authority upheld this response, citing Supreme Court precedent that RTI does not require public authorities to collect information not already maintained in their records.
Key Points
- Appeal filed by Mani Bhushan Pankaj on October 15, 2025 (received October 20, 2025)
- Original RTI application dated September 08, 2025 (received September 20, 2025)
- CPIO responded on October 09, 2025 that information is not maintained by SEBI
- Appellant requested: shareholding patterns, details of shares held by trading members, board resolutions, asset transfers, audited returns and balance sheets from 2009-10 onwards, and clarification on 100 shares in Demat account
- Delhi Stock Exchange Limited was allowed to exit as a Stock Exchange vide WTM order dated January 23, 2017
- Appellate Authority cited Supreme Court judgment in CBSE vs. Aditya Bandopadhyay (2011) establishing that RTI provides access only to existing information
Regulatory Changes
No regulatory changes introduced. This is an appellate decision upholding existing RTI Act interpretation.
Compliance Requirements
No compliance requirements. This decision affirms that SEBI is not required to provide information it does not maintain in the normal course of regulation.
Important Dates
- September 08, 2025: RTI application dated
- September 20, 2025: RTI application received by SEBI
- October 09, 2025: CPIO response issued
- October 15, 2025: Appeal dated
- October 20, 2025: Appeal received by Appellate Authority
- January 23, 2017: Exit order for Delhi Stock Exchange Limited
Impact Assessment
This order has minimal market impact as it concerns a procedural RTI matter regarding historical information about Delhi Stock Exchange, which exited as a stock exchange in 2017. The decision reinforces established RTI principles that public authorities are only required to provide information they actually maintain in their records. No operational or compliance implications for market participants.
Impact Justification
RTI appeal decision with no direct market impact; concerns historical information request about defunct Delhi Stock Exchange that was not maintained by SEBI.