Description

SEBI's Appellate Authority dismissed five identical RTI appeals filed by Harbans Singh Sahni regarding a bonus shares complaint against Gradiente Infotainment Ltd, citing repeated and abusive use of the RTI Act.

Summary

SEBI’s Appellate Authority under the RTI Act dismissed five identical appeals (Nos. 6724, 6725, 6726, 6727 & 6728 of 2026) filed by Harbans Singh Sahni against CPIO, SEBI, Mumbai. The appeals arose from a January 06, 2026 RTI application seeking information about SEBI’s actions regarding a 3000 bonus shares entitlement declared by Gradiente Infotainment Ltd on June 10, 2011. The Appellate Authority found no grounds for interference and dismissed all appeals.

Key Points

  • Appellant Harbans Singh Sahni filed five identical appeals (Reg. Nos. SEBIH/A/E/26/00045 to 00049) dated February 04, 2026
  • The underlying RTI application (dated January 06, 2026) related to Complaint No. SEBIE/AP18/0000043/1 concerning 3000 bonus shares of Gradiente Infotainment Ltd
  • CPIO had already responded by referring the appellant to SEBI’s earlier letter dated October 04, 2018 and prior replies
  • The Hon’ble Central Information Commission (CIC) had previously (order dated September 09, 2024) found the appellant guilty of filing repeated and multiple RTI applications on the same subject matter, constituting misuse of the RTI Act
  • The Appellate Authority concurred, finding the query to be a repetitive grievance and not a legitimate RTI inquiry

Regulatory Changes

No regulatory changes. This is an administrative order dismissing individual RTI appeals.

Compliance Requirements

No compliance requirements for market participants. The order is specific to the appellant and SEBI’s CPIO.

Important Dates

  • January 06, 2026: Original RTI application filed by appellant
  • February 04, 2026: CPIO responded; appellant filed five identical appeals
  • February 26, 2026: Appellate Authority order dismissing all five appeals
  • September 09, 2024: Earlier CIC order restraining appellant from filing repeated RTI applications
  • October 04, 2018: Referenced SEBI letter (SEBI/NRO/OW/MIRSD/SKS/DL/1884/2018) on the subject

Impact Assessment

No market or operational impact. This is a routine administrative dismissal of repetitive RTI appeals by an individual investor. The order has no bearing on listed companies, market intermediaries, or investors at large. The underlying grievance concerning bonus shares of Gradiente Infotainment Ltd remains a matter for the appropriate court of law as advised by both SEBI and the CIC.

Impact Justification

Routine dismissal of repetitive RTI appeals by an individual investor; no regulatory changes, market-wide implications, or compliance requirements for market participants.