Description
RTI appeal regarding information about old bonds of Dwarkesh Unity dismissed as SEBI does not maintain such information in normal course of securities market regulation.
Summary
Appeal No. 6615 of 2025 filed by Prakash Laxman Tayde under the Right to Information Act, 2005 seeking information about old bonds of “The Bond of Dwarkesh Unity” (D.N. No. 601 for Rs. 15,000 and D.N. No. 501 for Rs. 10,000). SEBI’s CPIO responded that the requested information is not maintained by SEBI in normal course of securities market regulation. The appeal was dismissed citing Supreme Court precedent that RTI Act provides access only to existing information.
Key Points
- Application filed on September 8, 2025 (received September 24, 2025) seeking information about Dwarkesh Unity bonds
- CPIO responded on October 17, 2025 that information not maintained by SEBI
- Appeal filed November 8, 2025 (received November 11, 2025)
- Appellant sought details on bond value and proper authority for encashment
- Previous attempts to get information from State Bank of India, Post Office, Central Bank, and RBI Regional Manager were unsuccessful
Regulatory Changes
No regulatory changes introduced by this order.
Compliance Requirements
No compliance requirements arising from this administrative appeal decision.
Important Dates
- September 8, 2025: RTI application filed by appellant
- September 24, 2025: Application received by SEBI
- October 17, 2025: CPIO response provided
- November 8, 2025: Appeal filed
- November 11, 2025: Appeal received by Appellate Authority
- December 4, 2025: Order issued
Impact Assessment
Market Impact: None. This is an administrative RTI appeal with no implications for securities markets.
Legal Precedent Applied: The Appellate Authority relied on the Supreme Court judgment in Central Board of Secondary Education & Anr. vs. Aditya Bandopadhyay & Ors (August 9, 2011), which clarified that RTI Act provides access only to existing information and does not obligate public authorities to create or maintain information not required under law or regulations.
Outcome: Appeal dismissed as SEBI does not maintain information about Dwarkesh Unity bonds in the normal course of securities market regulation.
Impact Justification
Administrative RTI appeal with no market impact; information sought not maintained by SEBI