Description
RTI appeal by PACL investor A Naveen seeking information about land allotment records dismissed as requested information not available with SEBI.
Summary
The Appellate Authority dismissed Appeal No. 6653 of 2026 filed by A Naveen, a PACL India Ltd. investor, under the Right to Information Act, 2005. The appellant sought information about land allotment records against Certificate No. U2001XXXXX. SEBI’s CPIO responded that the requested information is not available with SEBI, and the appeal was dismissed as the respondent cannot provide information not in its possession.
Key Points
- Appellant A Naveen is a PACL investor holding Certificate No. U2001XXXXX dated August 24, 2007
- SEBI PACL Refund Portal showed status indicating land was allotted against the certificate
- RTI application filed November 18, 2025, seeking land allotment records and verification details
- CPIO responded November 25, 2025 that requested information not available with SEBI
- Appeal filed December 11, 2025 (Reg. No. SEBIH/A/E/25/00324)
- Appellate Authority dismissed appeal on January 9, 2026
- Justice R.M. Lodha Committee is responsible for property disposal and investor repayment, not SEBI
Regulatory Changes
No regulatory changes introduced by this order.
Compliance Requirements
No new compliance requirements. The order clarifies that:
- SEBI cannot provide information not in its possession
- PACL matter details are available on SEBI website (public notices, press releases, status reports, FAQs)
- Justice R.M. Lodha Committee handles property disposal and investor repayment matters
Important Dates
- November 18, 2025: RTI application filed
- November 25, 2025: CPIO response provided
- December 11, 2025: Appeal filed
- January 9, 2026: Appeal dismissed
- February 2, 2016: Original Supreme Court order constituting Justice R.M. Lodha Committee
Impact Assessment
Minimal market impact. This is an individual RTI appeal related to the ongoing PACL refund matter. The order reinforces that SEBI’s role is limited and that the Justice R.M. Lodha Committee, constituted by Supreme Court order, is responsible for handling PACL property disposal and investor repayments. The decision follows precedent from the Central Information Commission that CPIOs cannot provide information not in their possession. Affects only the individual appellant and provides procedural clarity on information availability regarding PACL matters.
Impact Justification
Individual RTI appeal regarding PACL refund matter with no market-wide or regulatory implications