Description
RTI Act appeal dismissed as SEBI provided all available information regarding Sahara India and Pulse India Finance refund policies.
Summary
The Appellate Authority under the RTI Act dismissed Appeal No. 6608 of 2025 filed by Vivend Joarg Francis against the CPIO, SEBI, Mumbai. The appellant had sought information on refund policies for deposit amounts by Sahara India Company and Pulse India Finance Company. The Authority held that SEBI provided all available information regarding Sahara India group companies (SIRECL and SHICL) and correctly informed that information on Pulse India Finance does not pertain to SEBI.
Key Points
- Appeal filed on November 02, 2025 against CPIO’s response dated October 16, 2025
- Original RTI application dated September 17, 2025 sought refund policy details for Sahara India and Pulse India Finance
- SEBI provided information on Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL)
- Information on Pulse India Finance not available with SEBI as it does not fall under SEBI’s jurisdiction
- Appeal dismissed with no deficiency found in respondent’s response
Regulatory Changes
No regulatory changes introduced by this order.
Compliance Requirements
No new compliance requirements. This is an administrative order disposing of an RTI appeal.
Important Dates
- September 17, 2025: RTI application filed
- October 16, 2025: CPIO response provided
- November 02, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00287)
- November 28, 2025: Appeal dismissed by Appellate Authority
Impact Assessment
This order has no direct market impact. It is an administrative decision under the RTI Act confirming that SEBI provided all available information to the appellant. The order reaffirms the principle that public authorities can only provide information that exists in their records and pertains to their jurisdiction. The case involves investor queries about deposit refunds from Sahara India group companies under SEBI proceedings, but does not introduce any new policies or directives affecting market participants.
Impact Justification
Administrative RTI appeal order with no market-wide regulatory changes or compliance requirements for market participants