Description
RTI appeal dismissed as stamp duty calculation for share transmission falls outside SEBI's regulatory jurisdiction and requested information is not available with SEBI.
Summary
The Appellate Authority dismissed Appeal No. 6617 of 2025 filed by Sachin Sharma against CPIO, SEBI, Mumbai on December 11, 2025. The appellant sought information regarding stamp duty calculations for annexures (D, E, F) related to transmission of State Bank of India shares by legal heirs in Chhattisgarh under SEBI’s May 18, 2022 circular. The appeal was dismissed as stamp duty calculation falls under respective state stamp acts and does not fall within SEBI’s regulatory jurisdiction.
Key Points
- Appeal filed under Registration No. SEBIH/A/E/25/00295 dated November 16, 2025
- Original RTI application dated October 31, 2025 requested stamp duty calculation details for share transmission documents
- CPIO responded on November 12, 2025 that stamp duty is governed by respective state stamp acts
- Appellant alleged incomplete, misleading or false information was provided
- Appellate Authority confirmed requested information is not available with SEBI
- Decision cited precedent from Central Information Commission case Sh. Pattipati Rama Murthy vs. CPIO, SEBI (July 8, 2013)
Regulatory Changes
No regulatory changes introduced. This is an administrative order clarifying jurisdictional boundaries.
Compliance Requirements
No new compliance requirements. The order reaffirms that:
- Stamp duty for share transmission documents (Affidavits, Indemnity Bonds, NOC) is governed by respective state stamp acts
- SEBI does not maintain information on state-specific stamp duty calculations
- Information seekers must refer to applicable state stamp legislation for such details
Important Dates
- October 31, 2025: RTI application filed
- November 12, 2025: CPIO response provided
- November 16, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00295)
- December 11, 2025: Appeal dismissed by Appellate Authority
Impact Assessment
Minimal impact. This administrative order has no market or operational impact. It serves as a jurisdictional clarification that stamp duty matters for share transmission fall under state legislation, not SEBI’s regulatory purview. The order reinforces that RTI responses are limited to information actually held by SEBI and cannot compel creation of information not within the organization’s possession or jurisdiction.
Impact Justification
Administrative RTI appeal with no regulatory changes or market impact; clarifies SEBI's jurisdictional limits on state stamp duty matters