Description
RTI appeal by Shashi Mehrotra seeking information about SEBI's actions in the Karvy Stock Broking Ltd. case, including Supreme Court case status, affected investors, relief provided, and legal expenditure.
Summary
This is an appellate order under the Right to Information Act, 2005 in Appeal No. 6756 of 2026, filed by Shashi Mehrotra against the CPIO, SEBI, Mumbai. The appellant sought detailed information regarding SEBI’s handling of the Karvy Stock Broking Ltd. (KSBL) matter, including the status of Supreme Court proceedings, the number of affected investors, relief disbursed, legal representation costs, and steps taken by SEBI after the SAT order of December 2023.
Key Points
- Appellant filed RTI application on January 13, 2026; SEBI responded on January 29, 2026
- Appeal registered as SEBIH/A/E/26/00072, dated February 17, 2026
- Appellant sought nine categories of information related to the Karvy Stock Broking Ltd. case
- SEBI directed appellant to Supreme Court website for case status (Query 1 & 6)
- SEBI directed appellant to its own website for orders against KSBL regarding funds/securities outstanding (Query 2)
- Claims related to defaulter brokers handled separately (Queries 3 & 5 - response truncated in source)
Regulatory Changes
No regulatory changes introduced. This is a procedural RTI appellate order.
Compliance Requirements
No new compliance requirements. The order pertains to information access under the RTI Act, 2005.
Important Dates
- January 13, 2026: Original RTI application filed by appellant
- January 29, 2026: SEBI (respondent) replied to the RTI application
- February 17, 2026: Appellant filed first appeal (Reg. No. SEBIH/A/E/26/00072)
- March 16, 2026: Appellate Authority order date
Impact Assessment
This order has no direct market or operational impact. It is an administrative RTI appellate proceeding concerning transparency around SEBI’s handling of the Karvy Stock Broking Ltd. investor protection matter. Of broader public interest as it touches on investor relief status for affected Karvy clients and SEBI’s legal expenditure from public funds in Supreme Court proceedings post the December 2023 SAT order.
Impact Justification
Procedural RTI appeal order with no direct market or regulatory impact; relates to information disclosure about the historical Karvy Stock Broking matter.