Description

Appellate Authority order disposing RTI appeal seeking information on complaint status and action taken regarding alleged irregularities in Vistar Amar Limited's right issue and company secretary appointment.

Summary

The SEBI Appellate Authority disposed of Appeal No. 6644 of 2025 filed by Surendra Champalaji Jain under the Right to Information Act, 2005. The appellant sought information regarding the status and action taken on his complaint filed on July 10, 2025 concerning alleged irregularities in Vistar Amar Limited’s right issue and his appointment as Company Secretary. The Appellate Authority found that the CPIO had adequately responded to the queries and no deficiency existed in the response.

Key Points

  • Appellant filed RTI application on October 04, 2025 seeking status of complaint filed on July 10, 2025
  • Complaint concerned alleged illegal appointment as Company Secretary in Vistar Amar Limited (CIN: L05000MH1983PLC272707)
  • Allegations included criminal conspiracy, breach of trust, and fraudulent misstatements in Letter of Offer for Right Issue
  • CPIO responded on October 31, 2025 that complaint was examined based on BSE response and closed without further action
  • Appellant also filed appeal (Reg. No. SEBIH/A/E/25/00317) on November 29, 2025
  • CPIO clarified that as it was not a SCORES complaint and was disposed through internal notings, no formal ATR (Action Taken Report) was generated
  • Regarding whistle blower compensation information, CPIO stated such information does not pertain to SEBI

Regulatory Changes

No regulatory changes introduced. This is an RTI appeal disposal order.

Compliance Requirements

No new compliance requirements. The order pertains to information disclosure under RTI Act.

Important Dates

  • July 10, 2025: Complaint received by SEBI
  • October 04, 2025: RTI application filed by appellant
  • October 31, 2025: CPIO’s response to RTI application
  • November 29, 2025: Appeal filed before Appellate Authority
  • December 23, 2025: Order issued by Appellate Authority

Impact Assessment

This order has minimal market impact as it relates to an individual RTI appeal regarding complaint disposal. The Appellate Authority found the CPIO’s response adequate, noting that SEBI examined the complaint based on exchange response and closed the matter as it did not warrant further action. The breach of trust allegations were noted to be already under police investigation. The order reinforces that RTI Act provides access only to existing information and authorities cannot be compelled to create new documents or provide information not in their possession.

Impact Justification

Individual RTI appeal regarding complaint status with no market-wide regulatory impact; matter already examined and closed by SEBI without further action