Description

RTI appeal by S.Chandrasekaran seeking information about SEBI registration status of Herculean Solutions India Private Limited and associated individuals. The appellate authority reviews SEBI's response regarding intermediary registration details and complaint information.

Summary

This is an order by SEBI’s Appellate Authority under the Right to Information Act, 2005, in Appeal No. 6769 of 2026. The appellant, S.Chandrasekaran, filed an RTI application on January 19, 2026 seeking information about whether Herculean Solutions India Private Limited and two associated individuals (Mr. Sadur Vedagirinathan and Ms. K. Bagyalakshmi) are registered with SEBI. The respondent (CPIO, SEBI, Mumbai) responded on February 10, 2026, and the appellant subsequently filed this appeal.

Key Points

  • Appellant sought SEBI registration status of Herculean Solutions India Private Limited across categories including Stock Broker, Sub-broker, Investment Advisor, Portfolio Manager, and Research Analyst
  • Appellant also sought registration/authorization status of two individuals: Mr. Sadur Vedagirinathan (PAN ending 8P) and Ms. K. Bagyalakshmi (PAN ending 0B)
  • Appellant requested confirmation of any complaints, alerts, or regulatory inputs against the company or individuals related to unauthorized money collection or unregistered securities trading
  • CPIO responded that queries 1, 2, 3, and 5 seek clarification/opinion rather than “information” as defined under Section 2(f) of the RTI Act
  • CPIO directed the appellant to SEBI’s website for publicly available details of active registered intermediaries
  • CPIO declined to confirm or deny existence of complaints/investigations (query 4), citing confidentiality of ongoing investigations

Regulatory Changes

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

Compliance Requirements

No new compliance requirements are imposed. The order clarifies SEBI’s position that:

  • Information about SEBI-registered intermediaries is publicly available on the SEBI website
  • SEBI will not confirm or deny the existence of ongoing investigations, as investigations are conducted confidentially

Important Dates

  • January 19, 2026: Original RTI application filed by appellant
  • January 21, 2026: RTI application received by SEBI
  • February 10, 2026: CPIO responded to the RTI application
  • February 18, 2026: Appellant filed this appeal (Reg. No. SEBIH/A/P/26/00011)
  • February 23, 2026: Appeal received by Office of Appellate Authority

Impact Assessment

This order has minimal market or regulatory impact. It is an individual RTI matter concerning registration verification of a private entity and individuals. The order reinforces SEBI’s standard position that publicly available intermediary registration data can be accessed via SEBI’s website, and that investigative information is protected from RTI disclosure. No listed companies or broader market participants are affected.

Impact Justification

This is an RTI appeal order with no direct market impact. It concerns an individual's request for information about a specific company's SEBI registration status and has no broader regulatory or market implications.