Description

RTI appeal by Hari Prasad S seeking information on PACL Ltd asset recovery and investor refund process. Appeal dismissed as SEBI does not hold the requested information.

Summary

This order disposes of RTI Appeal No. 6753 of 2026 filed by Hari Prasad S against CPIO, SEBI, Mumbai. The appellant sought detailed information about PACL Ltd (Pearls Agrotech Corporation Limited) asset recovery and investor refund activities under the Justice R. M. Lodha Committee. SEBI responded that the information is not held by SEBI, and the Appellate Authority upheld that response, finding no deficiency.

Key Points

  • Appellant filed RTI application on February 6, 2026 seeking 7 categories of information about PACL Ltd asset recovery and investor refunds
  • Respondent (CPIO, SEBI) replied on February 12, 2026 stating the requested information is not available with SEBI
  • Appellant filed appeal (Reg. No. SEBIH/A/E/26/00068) on February 12, 2026, dissatisfied with the response
  • Appellate Authority upheld SEBI’s response, citing CIC precedent that CPIO cannot invent information it does not possess
  • Responsibility for PACL asset disposal and investor repayment rests with the Justice (Retd.) R. M. Lodha Committee, not SEBI directly

Regulatory Changes

No regulatory changes. This is a procedural RTI appeal order with no amendments to rules or regulations.

Compliance Requirements

No new compliance requirements for market participants. This order pertains solely to an individual RTI appeal.

Important Dates

  • February 6, 2026: Original RTI application filed by appellant
  • February 12, 2026: CPIO, SEBI responded to the application
  • February 12, 2026: Appellant filed first appeal (Reg. No. SEBIH/A/E/26/00068)

Impact Assessment

No market or operational impact. The order reaffirms that PACL-related asset recovery and refund data is managed by the Justice R. M. Lodha Committee rather than SEBI directly. PACL investors seeking refund status should refer to SEBI’s website for public notices, press releases, status reports, and FAQs related to PACL matters.

Impact Justification

Routine RTI appeal dismissal with no new regulatory changes or market-wide compliance requirements. Relevant only to PACL investors seeking refund status information.