Description
RTI appeal regarding information on deceased investor's mutual fund holdings and transmission procedures.
Summary
This is an RTI appeal (No. 6657 of 2026) filed by Arundhati Rout seeking information about mutual fund investments held by her deceased mother, Dr. Srilekha Ray, who passed away on March 7, 2019. The appellant sought details of mutual fund holdings, folio numbers, and transmission procedures. SEBI’s CPIO responded that such information is not maintained by SEBI and directed the appellant to approach Registrar and Transfer Agents (RTAs) of respective mutual funds. SEBI clarified it does not handle inheritance/transmission/transfer of mutual fund folios.
Key Points
- Appeal filed under the Right to Information Act, 2005 by legal heir of deceased investor
- Original RTI application dated November 14, 2025; CPIO response dated December 9, 2025
- Appellant sought details of deceased mother’s mutual fund holdings, folio numbers, investment amounts, and current status
- SEBI responded that it does not maintain central registry of individual investor mutual fund holdings
- SEBI does not handle inheritance/transmission/transfer matters for mutual fund folios
- SEBI referred to circular SEBI/HO/IMD/IMD-SEC-3/P/CIR/2025/15 dated February 12, 2025 regarding digital platform for tracking inactive and unclaimed mutual fund folios
- Investors directed to approach RTAs of respective mutual funds for transmission/claim procedures
Regulatory Changes
No regulatory changes introduced. This is an appellate order on an RTI application.
Compliance Requirements
No new compliance requirements. The order clarifies that:
- SEBI does not maintain individual investor mutual fund holding details
- Transmission/inheritance claims must be made directly to RTAs of respective mutual funds
- Investors can use digital platform introduced by RTAs (per SEBI circular dated February 12, 2025) to track inactive and unclaimed folios
Important Dates
- March 7, 2019: Death of investor Dr. Srilekha Ray
- November 14, 2025: RTI application filed
- December 9, 2025: CPIO response issued
- December 13, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00328)
- January 9, 2026: Appeal order date
Impact Assessment
This is an individual RTI appeal with no market-wide impact. The order clarifies SEBI’s role in maintaining investor records and handling transmission matters. It confirms that mutual fund transmission procedures are handled by AMCs and their RTAs, not by SEBI. The reference to SEBI’s February 2025 circular indicates ongoing efforts to help investors track inactive/unclaimed folios through digital platforms maintained by RTAs.
Impact Justification
Individual RTI appeal regarding deceased investor's mutual fund holdings; procedural matter with no market-wide regulatory impact