Description
SEBI Appellate Authority dismisses RTI appeal by Nitin Goel seeking information on share transfer rules for deceased holders in light of the Repealing and Amendment Act, 2025.
Summary
The SEBI Appellate Authority under the RTI Act dismissed Appeal No. 6752 of 2026 filed by Nitin Goel. The appellant had sought information on SEBI rules and regulations for transfer of shares of deceased holders following the Repealing and Amendment Act, 2025, which repealed Section 213 of the Indian Succession Act, 1925 (removing the requirement to obtain probate). The respondent (CPIO, SEBI) directed the appellant to existing public documents, and the Appellate Authority found the response adequate.
Key Points
- Appellant Nitin Goel filed an RTI application on December 24, 2025, received by SEBI on December 26, 2025
- The query related to SEBI rules for share transfer of deceased holders in light of the Repealing and Amendment Act, 2025, which repealed Section 213 of the Indian Succession Act, 1925
- CPIO responded on January 12, 2026, referring appellant to Part C of Schedule VII of SEBI (LODR) Regulations, 2015 and Annexure-14 of SEBI Master Circular for Registrars to an Issue and Share Transfer Agents dated June 23, 2025
- Appellant filed an appeal on February 5, 2026, disputing the correctness of the response
- Appellate Authority found the CPIO’s response adequate and dismissed the appeal
Regulatory Changes
No new regulatory changes introduced. The order references existing regulations:
- Part C of Schedule VII of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Annexure-14 of SEBI Master Circular for Registrars to an Issue and Share Transfer Agents dated June 23, 2025
Compliance Requirements
No new compliance requirements. The Appellate Authority reiterated that disputes regarding the correctness of information provided under the RTI Act cannot be adjudicated in RTI proceedings, citing the Delhi High Court ruling in Narendra Tyagi vs. Assistant Director (CPIO) (December 6, 2023).
Important Dates
- December 24, 2025: RTI application filed by appellant
- December 26, 2025: Application received by SEBI
- January 12, 2026: CPIO response to RTI application
- February 5, 2026: Appeal filed by appellant
- February 11, 2026: Appeal received by Office of Appellate Authority
- March 5, 2026: Appeal dismissed by Appellate Authority
Impact Assessment
This order has no direct market or operational impact. It is a routine RTI appellate proceeding with no new directives. Investors and market participants seeking guidance on share transfer procedures for deceased holders should refer to Part C of Schedule VII of SEBI LODR Regulations, 2015, and Annexure-14 of the SEBI Master Circular for Registrars to an Issue and Share Transfer Agents (June 23, 2025), both available on the SEBI website.
Impact Justification
Routine RTI appeal dismissal with no new regulatory changes or market-wide compliance obligations. Limited to individual information request regarding existing SEBI regulations on share transfer for deceased holders.