Description
RTI appellate order dismissing appeal by Bir Bahadur Sahni regarding PACL refund claim status. SEBI confirmed the requested information is not available with it, and the matter is handled by the Justice Lodha Committee.
Summary
The Appellate Authority under the Right to Information Act, 2005 disposed of Appeal No. 6778 of 2026 filed by Bir Bahadur Sahni against CPIO, SEBI, Mumbai. The appellant sought details about his PACL refund claim rejection, including the technical reason for bank detail rejection, verification reports, name mismatch clarifications, and the timeline for the next rectification window. SEBI’s CPIO responded that the requested information is not available with SEBI, and the Appellate Authority upheld this response finding no deficiency.
Key Points
- Appellant Bir Bahadur Sahni (PACL Reg. No. U30606xxxx) filed RTI application on February 22, 2026 seeking details on his PACL refund claim rejection due to incorrect bank details.
- SEBI CPIO responded on February 25, 2026 that the information sought is not available with SEBI.
- Appellant filed appeal (Reg. No. SEBIH/A/E/26/00089) on February 26, 2026 on the ground of refusal of information.
- Appellate Authority upheld CPIO’s response, citing CIC precedent: SEBI cannot invent information it does not possess.
- PACL refund and property disposal is managed by the Justice (Retd.) R.M. Lodha Committee, constituted under Supreme Court order dated February 2, 2016.
- SEBI directed the appellant to refer to publicly available Status Reports, FAQs, Press Releases and Public Notices on its website.
Regulatory Changes
No regulatory changes. This is a routine RTI appellate order.
Compliance Requirements
No new compliance requirements for market participants. The appellant is advised to refer to the SEBI website for PACL-related public notices, press releases, status reports, and FAQs for guidance on rectifying bank details or tracking refund claim status.
Important Dates
- February 22, 2026: RTI application filed by appellant.
- February 25, 2026: CPIO response issued.
- February 26, 2026: Appeal filed (Reg. No. SEBIH/A/E/26/00089).
- March 16, 2026: Appellate order issued.
Impact Assessment
This order has no market-wide impact. It is an individual RTI matter concerning a PACL investor’s refund claim. The order reaffirms that SEBI does not hold granular processing data for individual PACL claims, and that investors must approach the Justice Lodha Committee or refer to SEBI’s public communications for updates on claim rectification windows and refund timelines.
Impact Justification
Routine RTI appellate order with no market-wide regulatory changes; limited to individual investor grievance regarding PACL refund claim processing.