Description
RTI appeal regarding complaint against Mutual Fund Distributors Pankaj Laddha and Anant Laddha, with SEBI forwarding matter to AMFI for necessary action.
Summary
SEBI’s Appellate Authority disposed of Appeal No. 6676 of 2026 filed by Mukesh Kumar Chaudhary under the Right to Information Act, 2005. The appellant had sought information regarding his complaints filed against Mutual Fund Distributors (MFDs) Pankaj Laddha and Anant Laddha submitted via email on July 25, 2025 and September 24, 2025. SEBI’s CPIO responded that MFDs are registered with AMFI and complaints were forwarded to AMFI for necessary action, providing copies of relevant communications. The Appellate Authority found the response adequate and noted that grievance redressal does not fall under RTI Act purview.
Key Points
- Original RTI application filed on December 04, 2025, seeking 8 specific points of information about complaint status
- Complaints concerned alleged unethical practices by MFDs Pankaj Laddha and Anant Laddha
- SEBI forwarded complaints to AMFI as MFD complaints are handled by AMFI, not SEBI directly
- CPIO provided copies of communications sent from SEBI to AMFI regarding the complaints
- Appeal filed on December 31, 2025 (Reg. No. SEBIH/A/E/25/00344) claiming incomplete/misleading information
- Appellate Authority upheld CPIO’s response as adequate based on available information
- Authority clarified RTI Act cannot be used for grievance redressal, citing Central Information Commission precedent
Regulatory Changes
No regulatory changes introduced. This is an RTI appellate order regarding information disclosure on complaint handling procedures.
Compliance Requirements
No new compliance requirements. The order reaffirms existing practice that:
- MFD-related complaints are handled by AMFI, not SEBI
- SEBI forwards such complaints to the appropriate regulatory body (AMFI)
- RTI responses must provide information available with the public authority but cannot be used to compel specific actions
Important Dates
- July 25, 2025 and September 24, 2025: Complaint emails sent to SEBI Chairman
- December 04, 2025: RTI application filed
- December 30, 2025: CPIO response issued
- December 31, 2025: First appeal filed (Reg. No. SEBIH/A/E/25/00344)
- January 21, 2026: Appellate Authority order issued
Impact Assessment
This order has no market impact. It is an individual RTI matter clarifying:
- The jurisdictional boundary between SEBI and AMFI regarding MFD complaints
- The limitations of RTI Act for grievance redressal purposes
- The adequacy of information disclosure when complaints are forwarded to appropriate authorities
The order serves as procedural guidance for RTI applicants seeking information on complaints but does not affect market operations, trading, or regulatory requirements for market participants.
Impact Justification
Individual RTI appeal regarding complaint forwarding process with no market-wide regulatory impact or policy changes