Description

SEBI Appellate Authority order on RTI Appeal No. 6785 of 2026 filed by Janak Shankarlal Keshriya seeking information on complaint status and action taken report.

Summary

The SEBI Appellate Authority adjudicated RTI Appeal No. 6785 of 2026 filed by Janak Shankarlal Keshriya against the CPIO, SEBI, Mumbai. The appellant sought information regarding the status of a complaint filed on December 19, 2025, including correspondence, action taken report, notices issued, and names of responsible officers. The respondent denied the information under Section 8(1)(a) of the RTI Act citing strategic and internal nature of the information.

Key Points

  • Appellant filed RTI application dated January 12, 2026 (received by SEBI on January 31, 2026) seeking details on a complaint filed on December 19, 2025
  • SEBI’s CPIO responded on February 11, 2026, denying information on queries (a) and (d) under Section 8(1)(a) of the RTI Act
  • For queries (b), (c), and (e) related to action taken, CPIO stated regulatory actions are available on the SEBI website
  • Appellant filed appeal on February 23, 2026 (received February 27, 2026) expressing dissatisfaction with the response
  • SEBI examines complaints in confidence; disclosure of examination status could affect evidence collection or cause unwarranted market speculation

Regulatory Changes

No regulatory changes. This is an individual RTI appellate proceeding with no broader regulatory implications.

Compliance Requirements

No new compliance requirements for market participants. The order reaffirms SEBI’s established position that:

  • Internal functioning, systems, and procedures are exempt from disclosure under Section 8(1)(a) of the RTI Act
  • Complaint examination details are maintained in confidence to protect investigative integrity and prevent market speculation

Important Dates

  • December 19, 2025: Appellant’s original complaint filed with SEBI
  • January 12, 2026: RTI application filed by appellant
  • January 31, 2026: RTI application received by SEBI
  • February 11, 2026: CPIO response to RTI application
  • February 23, 2026: Appeal filed by appellant
  • February 27, 2026: Appeal received by Office of Appellate Authority

Impact Assessment

No market or operational impact. This is a routine RTI appellate matter involving an individual complainant. The order reinforces SEBI’s standard practice of maintaining confidentiality over complaint examination and investigation processes, consistent with Section 8(1)(a) of the RTI Act. Market participants and listed entities are unaffected.

Impact Justification

Routine RTI appellate order concerning an individual's complaint status inquiry; no market-wide regulatory changes or compliance requirements for market participants.