Description
RTI appeal by PACL investor seeking land allotment details dismissed as information not available with SEBI. Appellant directed to Justice R.M. Lodha Committee for investor repayment matters.
Summary
SEBI’s Appellate Authority dismissed RTI Appeal No. 6633 of 2025 filed by Jayveer Singh, a PACL Ltd. investor seeking details about land allegedly allotted against his investment certificate (U085147633). The appeal was dismissed on December 12, 2025, as the requested information is not available with SEBI. The appellant was directed to approach the Justice R.M. Lodha Committee, which handles PACL property disposal and investor repayment matters.
Key Points
- Appellant filed RTI application on November 20, 2025 seeking land allotment details
- PACL refund portal showed land was allotted per PACL Ltd. data, but appellant claims no receipt
- CPIO responded on November 25, 2025 that information not available with SEBI
- Appeal filed on November 25, 2025 claiming incomplete/misleading information
- Appellate Authority upheld CPIO decision citing CIC precedent that SEBI cannot provide information it doesn’t possess
- Justice R.M. Lodha Committee (constituted per Supreme Court order dated February 2, 2016) responsible for investor repayment
Regulatory Changes
No regulatory changes introduced. This is an administrative RTI appeal decision.
Compliance Requirements
No compliance requirements. The order affirms existing RTI response protocols - CPIOs are not required to provide information not in SEBI’s possession.
Important Dates
- November 20, 2025: RTI application filed
- November 25, 2025: CPIO response provided
- November 25, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00307)
- December 12, 2025: Appeal dismissed by Appellate Authority
Impact Assessment
Minimal market impact. This is an individual investor grievance related to PACL refund matters. The decision reinforces that SEBI’s role in PACL matters is limited, with investor repayment responsibility vested in the Justice R.M. Lodha Committee appointed by the Supreme Court. PACL investors seeking land allotment information should approach the Lodha Committee rather than SEBI through RTI applications.
Impact Justification
Individual RTI appeal dismissal with no market-wide regulatory implications. Procedural matter related to PACL investor claims.