Description
RTI appeal dismissed as time-barred regarding SEBI permission and compliance information for HDB Financial Limited IPO.
Summary
SEBI’s Appellate Authority dismissed Appeal No. 6636 of 2025 filed by Sapan Shrivastava as time-barred. The appellant sought information under RTI Act regarding SEBI permission/NOC for HDB Financial Limited IPO (listed July 2, 2025), lenders’ NOC, and officer details handling IPO compliance. The appeal filed on November 26, 2025 exceeded the 30-day period from the August 29, 2025 CPIO response.
Key Points
- Appeal filed by Sapan Shrivastava regarding HDB Financial Limited IPO information
- Original RTI application dated August 2, 2025; CPIO response dated August 29, 2025
- Appeal received November 26, 2025 - beyond 30-day statutory limit under RTI Act Section 19(1)
- No request for condoning delay or valid reasons provided by appellant
- Appeal dismissed as time-barred on procedural grounds
- CPIO had informed that SEBI permission information is generic/vague, lender NOC not available with SEBI, and officer details exempt under Section 8(1)(j) and 8(1)(g)
Regulatory Changes
No regulatory changes introduced. This is an administrative decision on an RTI appeal.
Compliance Requirements
No new compliance requirements. The order reinforces that RTI appeals must be filed within 30 days from receipt of CPIO response as per Section 19(1) of RTI Act, 2005.
Important Dates
- August 2, 2025: RTI application filed
- August 29, 2025: CPIO response issued
- September 28, 2025: Last date to file appeal (30 days from CPIO response)
- November 26, 2025: Appeal actually filed (time-barred)
- December 23, 2025: Appeal dismissed
Impact Assessment
This order has no market or operational impact. It is an administrative decision dismissing an RTI appeal on procedural grounds. The appellant sought post-IPO compliance information for HDB Financial Limited which listed on July 2, 2025. The dismissal does not affect any regulatory framework, trading operations, or compliance obligations for market participants.
Impact Justification
Administrative RTI appeal decision with no regulatory or market impact; appeal dismissed on procedural grounds regarding HDB Financial IPO information request.