Description
RTI appeal filed by Sushma Garg against SEBI regarding complaints filed against Kotak Securities Limited concerning succession certificate issues and transmission delays.
Summary
This is an RTI appeal (No. 6689 of 2026) filed by Sushma Garg before SEBI’s Appellate Authority against the response provided by SEBI’s CPIO regarding complaints filed against Kotak Securities Limited. The appeal concerns SCORES complaint reference numbers SEBIE/UP25/MEER/028261/1 and escalation complaint SEBIE/UP25/MEER/047633/1, relating to issues with succession certificate processing and transmission delays.
Key Points
- Original RTI application filed on December 16, 2025, seeking information about SEBI’s examination of complaints against Kotak Securities Limited
- CPIO responded on January 07, 2026, stating all information is available electronically through SCORES system
- Appeal filed on January 09, 2026 (Reg. No. SEBIH/A/E/26/00012)
- Main issues raised: Kotak Securities initially rejected succession certificate in January 2024 but later accepted the same certificate in August 2025
- Transmission delay of approximately 20 months after submission of succession certificate in November 2023
- Continuation of AMC and DP charges for 3 years after death intimation
- CPIO stated no separate file notings are maintained outside SCORES system; all actions and observations are recorded electronically
Regulatory Changes
No regulatory changes introduced. This is an individual appeal case regarding access to information under the RTI Act, 2005.
Compliance Requirements
No new compliance requirements. The document relates to SEBI’s internal complaint handling and RTI response processes.
Important Dates
- December 16, 2025: RTI application filed by appellant
- January 07, 2026: CPIO response provided
- January 09, 2026: Appeal filed before Appellate Authority
- November 2023: Succession certificate submitted to Kotak Securities (as mentioned in complaint)
- January 2024: Succession certificate rejected by Kotak Securities
- August 2025: Same succession certificate accepted and transmission completed
Impact Assessment
This appeal has no direct market impact. It is a procedural matter involving an individual investor’s RTI request regarding complaint handling processes. The case highlights issues in the SCORES complaint redressal mechanism and information accessibility for complainants, but does not establish new market-wide rules or requirements. The document is incomplete and does not contain the final order or resolution of the appeal.
Impact Justification
Individual RTI appeal case regarding specific investor complaint handling process. No market-wide regulatory changes or broader compliance requirements.