Description

RTI appeal dismissed as requested information on PACL land allotment and refund details is not available with SEBI. Appellant directed to Justice R.M. Lodha Committee responsible for disposal of properties and investor repayment.

Summary

SEBI’s Appellate Authority dismissed Appeal No. 6673 of 2026 filed by Laxmi Govindappa Teggihala under the Right to Information Act, 2005. The appellant sought information regarding PACL land allotment, physical possession details, refund procedures, and nominee claim processing. SEBI responded that the requested information is not available with the regulator. The Appellate Authority upheld this response, noting that the Justice (Retd.) R.M. Lodha Committee, constituted pursuant to Supreme Court order dated February 2, 2016, is responsible for property disposal and investor repayment in PACL matters.

Key Points

  • RTI application filed on December 17, 2025 (Reg. No. SEBIH/A/E/25/00341) seeking details on PACL land allotment and refund status
  • SEBI CPIO responded on December 23, 2025 stating requested information not available with SEBI
  • Appeal filed on December 27, 2025 claiming incomplete, misleading or false information provided
  • Appellate Authority dismissed appeal citing precedent from Pattipati Rama Murthy vs. CPIO, SEBI (July 8, 2013): CPIO cannot invent information not in possession
  • Justice R.M. Lodha Committee (Chairmanship of former Chief Justice of India) holds responsibility for PACL property disposal and investor repayment
  • SEBI website contains publicly available PACL-related information including Public Notices, Press Releases, Status Reports and FAQs

Regulatory Changes

No regulatory changes introduced. This is an individual RTI appeal order affirming existing information disclosure practices under the RTI Act, 2005.

Compliance Requirements

Not applicable. This order pertains to RTI disclosure obligations rather than market participant compliance requirements.

Important Dates

  • December 17, 2025: RTI application filed by appellant
  • December 23, 2025: CPIO response provided
  • December 27, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00341)
  • January 19, 2026: Appellate Authority order issued
  • February 2, 2016: Supreme Court order constituting Justice R.M. Lodha Committee (reference date)

Impact Assessment

Minimal market impact. This is an individual RTI appeal matter specific to PACL investor refund queries. The order clarifies jurisdictional boundaries - SEBI does not maintain records of PACL land allotments or physical possession details, as these matters fall under the purview of the Supreme Court-appointed Justice R.M. Lodha Committee. Investors seeking PACL-related information on land allotment status, refund procedures, or nominee claims should approach the Lodha Committee rather than SEBI. The decision reaffirms established RTI principles that information authorities cannot be compelled to provide information not in their possession.

Impact Justification

Individual RTI appeal matter with no market-wide impact. Decision confirms SEBI does not hold requested PACL land allotment information, directing appellant to appropriate authority (Lodha Committee).