Description

Appellate Authority dismisses RTI appeal by Meena Kumari seeking information on PACL investor refund status, ruling that SEBI does not possess the requested information.

Summary

The Appellate Authority under the RTI Act, SEBI, dismissed Appeal No. 6788 of 2026 filed by Meena Kumari against the CPIO, SEBI, Mumbai. The appellant sought information regarding PACL (Pearls Agrotech Corporation Limited) investor refund status, including the status of her matured policies. SEBI’s CPIO responded that the information is not available with SEBI, and the Appellate Authority upheld this response.

Key Points

  • Appellant Meena Kumari filed an RTI application on January 13, 2026 (received January 16, 2026) seeking details on PACL investor refunds
  • SEBI’s CPIO responded on January 28, 2026, stating the requested information is not held by SEBI
  • Appellant filed the appeal on February 26, 2026 (received by Appellate Authority on March 04, 2026)
  • The Appellate Authority found no deficiency in the CPIO’s response
  • The Justice (Retd.) R.M. Lodha Committee, constituted per Supreme Court order dated February 2, 2016, is responsible for disposal of PACL properties and repayment to investors
  • SEBI website contains public notices, press releases, status reports, and FAQs related to PACL matters

Regulatory Changes

No regulatory changes. This is a disposal order on an individual RTI appeal.

Compliance Requirements

No new compliance requirements. The order reaffirms that PACL investor refund matters are handled by the Justice R.M. Lodha Committee, not SEBI directly. Investors seeking refund-related information should refer to SEBI’s website for public notices, FAQs, and status reports on PACL.

Important Dates

  • January 13, 2026: Original RTI application filed by appellant
  • January 16, 2026: RTI application received by SEBI
  • January 28, 2026: CPIO response to RTI application
  • February 26, 2026: First appeal filed by appellant
  • March 04, 2026: Appeal received by Office of Appellate Authority
  • March 24, 2026: Appeal dismissed by Appellate Authority

Impact Assessment

No market or broad regulatory impact. This order affects only the individual appellant. It reinforces that SEBI does not hold operational PACL refund data, and that investors must direct their queries to the Lodha Committee. PACL-related public information remains accessible via the SEBI website.

Impact Justification

Routine RTI appeal dismissal with no regulatory changes or market impact; concerns individual investor query on PACL refund status which is handled by the Lodha Committee, not SEBI directly.