Description

RTI appeal by Ajay Basudev Bose seeking information on recovery proceedings against defaulters in the matter of Moongipa Investment Limited and others. Appellant challenged the respondent's reply as incomplete, misleading, or false.

Summary

This order concerns Appeal No. 6744 of 2026 filed by Ajay Basudev Bose before SEBI’s Appellate Authority under the Right to Information Act, 2005. The appellant sought information about recovery proceedings (Certificate No. 8624 of 2025) against defaulters Moongipa Investment Limited, Madhur Agarwal, Sudhir Agarwal, and Shiv Kumar Agarwal, related to a penalty of Rs. 12,31,59,849 imposed via order dated February 9, 2019.

Key Points

  • Appellant filed an RTI application dated January 16, 2026 seeking details on recovery proceedings under Attachment Proceedings 15051 of 2025
  • CPIO, SEBI responded on February 3, 2026; appellant filed this appeal on February 10, 2026 (Reg. No. SEBIH/A/E/26/00062)
  • Recovery proceedings are ongoing; attachment notices were issued to banks/mutual funds/post offices/depositories on December 12, 2025
  • No amount had been recovered from the defaulters as of the date of the CPIO’s reply
  • The defaulters’ recovery had not been handed over to CBI/ED/Economic Offence Wing
  • Action taken reports are publicly available on SEBI’s website under ‘Enforcement-Recovery Proceedings’
  • Appellant alleged the response was incomplete, misleading, or false

Regulatory Changes

No regulatory changes introduced by this order. It is an adjudication of an individual RTI appeal.

Compliance Requirements

No new compliance requirements. The CPIO was found to have adequately addressed the appellant’s queries by providing available information and directing the appellant to SEBI’s website for action taken reports.

Important Dates

  • February 9, 2019: Original penalty order (WTM/AB/EFD/1/DRA-2/19/2018-19) imposing Rs. 12,31,59,849 penalty
  • February 13, 2025: Recovery Certificate No. 8624 of 2025 issued
  • December 12, 2025: Attachment notices issued to banks/mutual funds/post offices/depositories
  • January 16, 2026: Appellant’s RTI application filed
  • February 3, 2026: CPIO response to RTI application
  • February 10, 2026: Appeal filed by appellant

Impact Assessment

This order has no direct market or operational impact. It is an administrative RTI appeal resolution concerning enforcement recovery proceedings against specific defaulters. The order confirms that recovery proceedings against Moongipa Investment Limited and associated individuals are ongoing with no amounts recovered to date, and that the matter has not been referred to CBI/ED/Economic Offence Wing.

Impact Justification

This is an individual RTI appeal regarding recovery proceedings information. It has no direct market-wide regulatory impact and pertains to a specific enforcement/recovery case.