Description

SEBI's Appellate Authority dismissed RTI appeal filed by Sapan Shrivastava regarding HDFC Mutual Fund schemes information as time-barred, filed beyond 30-day statutory period.

Summary

SEBI’s Appellate Authority dismissed Appeal No. 6637 of 2025 filed by Sapan Shrivastava as time-barred. The appellant sought information about HDFC Mutual Fund schemes including launch dates, trustee approvals, and SEBI approvals for six major schemes (Balanced Advantage Fund, Mid Cap Fund, Flexi Cap Fund, Large Cap Fund, Small Cap Fund, and Money Market Fund). The appeal was filed on November 26, 2025, beyond the 30-day statutory period from receipt of CPIO’s response dated October 17, 2025. The appellant neither requested condonation of delay nor explained reasons for late filing.

Key Points

  • Appeal dismissed as filed after 30-day statutory period under Section 19(1) of RTI Act
  • Original RTI application dated September 20, 2025 sought information on six HDFC Mutual Fund schemes
  • CPIO responded on October 17, 2025; appeal received November 26, 2025 (beyond deadline)
  • Query 1 (launch dates): Information available on SEBI website in public domain
  • Queries 2-3 (trustee and SEBI approvals): Information held in fiduciary capacity, exempt under Section 8(1)(e) of RTI Act
  • No request for condonation of delay or valid reasons provided by appellant
  • Authority cited Delhi High Court and CIC precedents regarding publicly available information

Regulatory Changes

No regulatory changes introduced. This is an administrative order applying existing RTI Act provisions.

Compliance Requirements

No new compliance requirements. The order reinforces:

  • First appeals under RTI Act must be filed within 30 days from receipt of CPIO response
  • Requests for condonation of delay must be explicitly made with valid reasons
  • Information available in public domain need not be separately provided under RTI
  • Information held in fiduciary capacity is exempt under Section 8(1)(e) unless larger public interest involved

Important Dates

  • September 20, 2025: RTI application filed by Sapan Shrivastava
  • October 17, 2025: CPIO response issued
  • November 26, 2025: First appeal filed (Registration No. SEBIH/A/E/25/00309)
  • Appeal dismissed as time-barred for filing beyond statutory 30-day period

Impact Assessment

Minimal market impact. This is a procedural order addressing an individual RTI appeal with no implications for market operations, trading, or regulatory policy. The order affirms standard administrative practices regarding RTI timelines and exemptions for information held in fiduciary capacity. No impact on HDFC Mutual Fund operations or any market participants.

Impact Justification

Administrative order dismissing individual RTI appeal on procedural grounds with no market-wide regulatory impact or policy changes