Description
RTI appeal regarding SEBI's response to complaints about Bio Green Papers Ltd for alleged fraudulent filings and disclosure violations.
Summary
Dr. Aveena Gudapati filed an RTI appeal (Appeal No. 6621 of 2025) challenging SEBI’s response to her application seeking information about complaints filed against Bio Green Papers Ltd (BSE: 534535). The appellant had sought certified copies of records, investigation details, action timelines, and communications regarding alleged fraudulent AGM filings, non-disclosures, and LODR regulation violations by the company dating back to November 2022.
Key Points
- RTI application filed on October 11, 2025, seeking information on complaints against Bio Green Papers Ltd
- SEBI responded on November 06, 2025, stating complaints were treated as market intelligence and maintained confidentially
- Appellant filed appeal on November 13, 2025, unsatisfied with SEBI’s response
- SEBI’s position: neither confirms nor denies existence of investigations; maintains confidentiality of examination/investigation processes
- Any regulatory action taken by SEBI would be published on SEBI website
Regulatory Changes
No regulatory changes introduced. This is an RTI appeal matter regarding information disclosure procedures.
Compliance Requirements
No new compliance requirements. The order addresses SEBI’s internal procedures for handling RTI applications related to complaints and market intelligence.
Important Dates
- October 11, 2025: RTI application filed by appellant
- October 13, 2025: Application received by SEBI
- November 06, 2025: SEBI’s response to RTI application
- November 13, 2025: Appeal filed
- November 18, 2025: Appeal received by Office of Appellate Authority
- Original complaints referenced: November 24, 2022 and May 30, 2025
Impact Assessment
This appeal has minimal market impact as it pertains to administrative RTI procedures rather than substantive regulatory action. The order reinforces SEBI’s policy of maintaining confidentiality regarding market intelligence, complaints, and ongoing investigations. It clarifies that SEBI does not publicly confirm or deny the existence of investigations to prevent market speculation, protect evidence collection, and avoid unnecessary harm to third parties. The matter is specific to one appellant’s information request and does not affect broader market participants or trading operations.
Impact Justification
Administrative RTI appeal regarding SEBI's handling of complaints. Does not involve new regulations, enforcement orders, or market-wide changes. Limited to procedural matter between appellant and SEBI regarding information disclosure under RTI Act.