Description

RTI appellate order regarding an applicant's request for information about his complaint filed with SEBI on July 28, 2025, including investigation status and DRHP-related actions. SEBI upheld confidentiality of examination/investigation details.

Summary

This is an order by SEBI’s Appellate Authority under the Right to Information Act, 2005, in Appeal No. 6732 of 2026 filed by Parivesh Shukla against the CPIO, SEBI, Mumbai. The appellant had filed an RTI application dated January 19, 2026 seeking details about his complaint submitted to SEBI on July 28, 2025, including investigation status, any DRHP-related actions, and communications issued to exchanges or intermediaries. SEBI’s CPIO responded on February 05, 2026, providing limited information and citing the confidentiality of its examination and investigation processes.

Key Points

  • Appellant sought 8 categories of information relating to his complaint dated July 28, 2025 filed with SEBI
  • The complaint was not lodged via SCORES (SEBI’s online grievance redressal platform) and hence no registration reference number was assigned
  • SEBI confirmed receipt of the complaint on July 28, 2025 but declined to share investigation/examination details
  • SEBI invoked the principle that investigations are conducted confidentially and it will neither confirm nor deny the existence of any examination or investigation
  • Query No. 2 (copy of appellant’s own complaint) was held not to constitute “information” under Section 2(f) of the RTI Act, citing Madras High Court judgment in WP No. 26781/2013 dated 17.09.2014
  • The appeal was filed on February 06, 2026 (Reg. No. SEBIH/A/E/26/00052) on grounds of refused access to information

Regulatory Changes

No regulatory changes. This is an individual RTI appellate proceeding with no amendments to SEBI regulations or circulars.

Compliance Requirements

  • Entities filing complaints with SEBI should use the SCORES platform to obtain a formal registration number
  • Complaints submitted outside SCORES will not receive a reference number and may receive limited RTI disclosures
  • Requests for copies of documents already in the applicant’s possession are not treated as “information” under Section 2(f) of the RTI Act

Important Dates

  • July 28, 2025: Date of original complaint filed by appellant with SEBI
  • January 19, 2026: RTI application filed by appellant
  • February 05, 2026: CPIO response to RTI application
  • February 06, 2026: First appeal filed (Reg. No. SEBIH/A/E/26/00052)
  • March 2, 2026: Appellate Authority order issued

Impact Assessment

This order has no direct market or operational impact. It is an administrative RTI appellate decision affecting only the individual appellant. It reaffirms SEBI’s standard position on the confidentiality of its examination and investigation processes and the non-applicability of RTI to documents already in the applicant’s possession. Market participants and listed entities are not affected.

Impact Justification

Routine RTI appellate order with no market-wide regulatory changes or trading implications; limited to an individual's information request about a personal complaint filed with SEBI.