Description
SEBI Appellate Authority dismisses RTI appeal filed by Sapan Shrivastava regarding NSE's Additional Surveillance Measure (ASM) framework as time-barred, filed beyond the 30-day statutory period.
Summary
The SEBI Appellate Authority dismissed Appeal No. 6640 of 2025 filed by Sapan Shrivastava as time-barred. The appellant filed an RTI application on August 06, 2025 seeking information about NSE’s Additional Surveillance Measure (ASM) framework, including details about Additional Surveillance Deposit (ASD). The CPIO responded on September 04, 2025, but the first appeal was filed only on November 26, 2025, beyond the 30-day statutory period prescribed under Section 19(1) of the RTI Act. The appellant neither requested condonation of delay nor provided reasons for the delayed filing.
Key Points
- RTI application filed on August 06, 2025 seeking information on NSE’s ASM/ASD framework
- CPIO response provided on September 04, 2025
- First appeal filed on November 26, 2025 - beyond the 30-day statutory limit
- Appeal dismissed as time-barred under Section 19(1) of RTI Act, 2005
- No request for condonation of delay or explanation provided by appellant
- Information sought included NSE meeting minutes, SEBI approvals, ASD deposit amounts, interest rates, consent formats, and script lists
- CPIO had cited exemptions under Section 8(1)(a) for internal functioning, vagueness for some queries, and non-availability of certain information
Regulatory Changes
No regulatory changes introduced. This is an administrative order dismissing an RTI appeal on procedural grounds.
Compliance Requirements
No new compliance requirements. The order serves as a reminder that RTI appeals must be filed within 30 days from receipt of CPIO response as per Section 19(1) of the RTI Act, 2005.
Important Dates
- August 06, 2025: RTI application filed
- September 04, 2025: CPIO response issued
- November 26, 2025: First appeal filed (beyond statutory period)
- December 23, 2025: Appeal dismissed by Appellate Authority
Impact Assessment
This order has minimal market impact as it is purely administrative in nature. It does not affect NSE’s Additional Surveillance Measure framework or any trading operations. The dismissal is based solely on procedural non-compliance with RTI timelines rather than on the merits of the information sought. The order reinforces the importance of adhering to statutory timelines for filing RTI appeals.
Impact Justification
Administrative RTI appeal dismissal with no market impact or regulatory changes. Relates to procedural denial of information request about NSE surveillance measures.