Description

SEBI Appellate Authority dismisses RTI appeal filed by Ankurbhai Kamleshbhai Shah seeking information on UPI Static Codes circular for IPO applications, holding the queries were not clear and specific.

Summary

The SEBI Appellate Authority dismissed Appeal No. 6730 of 2026 filed by Ankurbhai Kamleshbhai Shah against CPIO, SEBI, Mumbai. The appellant sought information regarding circulars related to UPI Static Codes for IPO applications (referencing RC 100), including issuance dates and URLs. The CPIO had denied the request on grounds that the queries were unclear and could not be construed as ‘Information’ under Section 2(f) of the RTI Act. The Appellate Authority upheld the CPIO’s response and dismissed the appeal.

Key Points

  • Appellant filed RTI application on January 02, 2026 seeking details of SEBI/BSE circulars on UPI Static Codes for IPO applications with reference to RC 100
  • CPIO responded on January 30, 2026, stating the queries were not clear and therefore not actionable as ‘Information’ under the RTI Act
  • Appellant filed the appeal (Reg. No. SEBIH/A/E/26/00050) on February 05, 2026 citing refusal of information
  • Appellate Authority concurred with CPIO that RTI queries must be clear, specific, and relate to documented information in the public authority’s records
  • Authority cited precedent: Mr. T. V. Sundaresan vs. CPIO, SEBI (November 24, 2021), affirming that broad, general, or presumptive queries are not disclosable under the RTI Act
  • Appellant was directed to SEBI’s website where all circulars and master circulars are publicly available

Regulatory Changes

No regulatory changes. This is a procedural RTI appellate order with no amendments to existing rules or issuance of new directives.

Compliance Requirements

No new compliance requirements imposed. The order reaffirms the established RTI principle that information requests must be clear, specific, and pertain to documented records held by the public authority.

Important Dates

  • January 02, 2026: Original RTI application filed by appellant
  • January 30, 2026: CPIO response issued
  • February 05, 2026: Appeal filed by appellant (Reg. No. SEBIH/A/E/26/00050)
  • February 26, 2026: Appellate Authority order issued dismissing the appeal

Impact Assessment

This order has no market, operational, or regulatory impact. It is a routine individual RTI appeal dismissal. The decision reinforces SEBI’s standard practice of requiring RTI queries to be specific and well-defined. Investors or applicants seeking circulars related to UPI Static Codes for IPO applications are advised to search directly on the SEBI website where all circulars and master circulars are publicly accessible.

Impact Justification

Routine RTI appeal dismissal with no regulatory changes, market-wide compliance requirements, or impact on listed entities or investors. Limited to an individual's information request regarding UPI Static Codes for IPO applications.