Description
SEBI Appellate Authority dismisses RTI appeal by Aashish Pal seeking PACL plot allotment details, upholding CPIO's response that the information is not available with SEBI.
Summary
The SEBI Appellate Authority dismissed Appeal No. 6792 of 2026 filed by Aashish Pal against the CPIO, SEBI, Mumbai. The appellant, a PACL Ltd. investor holding 9 certificates (2 already refunded), sought information about plot allotments recorded in PACL’s name against his remaining certificates. SEBI’s CPIO responded that the information is not available with SEBI, and the Appellate Authority found no deficiency in that response.
Key Points
- Appellant Aashish Pal filed an RTI application on March 05, 2026 seeking details of land/plot allotted in his name per PACL records
- CPIO responded on March 09, 2026 stating the requested information is not available with SEBI
- Appellant appealed on March 09, 2026 (Reg. No. SEBIH/A/E/26/00099) alleging incomplete, misleading, or false information
- Appellate Authority cited CIC precedent (Sh. Pattipati Rama Murthy vs. CPIO, SEBI, July 8, 2013): SEBI cannot invent information it does not possess
- Responsibility for PACL property disposal and investor repayment lies with the Justice (Retd.) R.M. Lodha Committee, constituted per Supreme Court order dated February 2, 2016
- SEBI provided links to Status Reports, FAQs, Press Releases, and Public Notices related to PACL Ltd. on its website
Regulatory Changes
No regulatory changes. This is a disposal order on an individual RTI appeal.
Compliance Requirements
No new compliance requirements. The appellant is directed to refer to PACL-related public notices, press releases, status reports, and FAQs available on the SEBI website, and may approach the Justice R.M. Lodha Committee for information on plot allotments and refunds.
Important Dates
- March 05, 2026: Original RTI application filed by appellant
- March 09, 2026: CPIO response issued; appellant filed first appeal
- April 01, 2026: Appellate Authority order passed dismissing the appeal
Impact Assessment
No market or systemic impact. This order concerns a single investor’s RTI grievance regarding PACL certificate refunds. It reinforces the established position that SEBI does not hold PACL plot allotment records and that the Lodha Committee is the appropriate authority for PACL investor redressal.
Impact Justification
Routine RTI appeal dismissal with no market-wide regulatory changes; affects only the individual appellant seeking PACL-related plot allotment information.