Description

SEBI Appellate Authority order on RTI Appeal No. 6787 of 2026 filed by R. B. Balan regarding complaint about City Union Bank's GST and DDS account mishandling.

Summary

The SEBI Appellate Authority issued an order on Appeal No. 6787 of 2026 filed by R. B. Balan against the CPIO, SEBI, Mumbai. The appellant sought information related to SEBI’s handling of his complaint dated August 25, 2025 regarding alleged mishandling of GST and DDS accounts by City Union Bank, along with branch details and complaint statistics for the bank.

Key Points

  • Appellant R. B. Balan filed an RTI application (received by SEBI on December 31, 2025) seeking information about SEBI’s inquiry into his complaint against City Union Bank.
  • The respondent (CPIO) replied on January 02, 2026; the appellant filed this appeal on February 25, 2026 (Reg. No. SEBIH/A/P/26/00015), received by the Appellate Authority on March 02, 2026.
  • The RTI queries covered: status of SEBI’s inquiry into the complaint, copies of correspondence with City Union Bank, branch count data for City Union Bank in Tamil Nadu and across India, and complaint statistics for the bank in 2024 and 2025.
  • SEBI declined to confirm or deny any examination/investigation (queries 1–3), citing confidentiality of investigations; directed appellant to SEBI’s Enforcement section for any public regulatory actions.
  • Branch details (queries 4–6) were held not to pertain to SEBI and thus unavailable.
  • Complaint statistics (query 7) were held exempt under Section 8(1)(e) of the RTI Act as information held in fiduciary capacity.

Regulatory Changes

No regulatory changes. This is a quasi-judicial order disposing of an individual RTI appeal.

Compliance Requirements

No new compliance requirements for market participants. The order is specific to the appellant’s RTI request and SEBI’s standard information disclosure obligations under the RTI Act.

Important Dates

  • August 25, 2025: Appellant’s original complaint to SEBI regarding City Union Bank.
  • December 31, 2025: RTI application received by SEBI.
  • January 02, 2026: CPIO’s response to the RTI application.
  • February 25, 2026: Appeal filed by appellant.
  • March 02, 2026: Appeal received by the Office of Appellate Authority.
  • March 24, 2026: Appellate Authority order issued.

Impact Assessment

This order has no material impact on markets or market participants. It is a routine RTI appellate proceeding involving an individual grievance about City Union Bank. SEBI’s responses reaffirm standard positions: investigations are confidential, branch-level banking data is outside SEBI’s jurisdiction, and complaint data held in fiduciary capacity is exempt from disclosure under Section 8(1)(e) of the RTI Act.

Impact Justification

Routine RTI appellate order concerning an individual's information request about City Union Bank; no market-wide regulatory changes or compliance obligations for market participants.