Description
SEBI Appellate Authority dismisses RTI appeal by Krishna Chandra Pandey, upholding CPIO's response that queries seeking clarification on BSE settlement cycle No. 67 (1995) are opinion-based and not 'information' under RTI Act Section 2(f).
Summary
The SEBI Appellate Authority under the Right to Information Act, 2005 has disposed of Appeal No. 6797 of 2026 filed by Krishna Chandra Pandey against CPIO, SEBI, Mumbai. The appellant sought clarification on BSE Settlement Cycle No. 67 (starting August 28, 1995), alleging discrepancies in contract notes. The Appellate Authority upheld the CPIO’s response that the queries were opinion/clarification-seeking in nature and therefore not covered as ‘information’ under Section 2(f) of the RTI Act.
Key Points
- Appellant filed RTI application on February 04, 2026 regarding BSE settlement cycle No. 67 (commencing August 28, 1995)
- Appellant alleged two contract notes showed different closing dates for the same settlement cycle, suggesting possible forgery
- CPIO responded on March 02, 2026, stating the queries sought clarification/opinion, not factual information
- Appellant filed appeal (Reg. No. SEBIH/A/E/26/00103) on March 15, 2026, alleging incomplete, misleading, or false information
- Appellate Authority concurred with CPIO that queries are opinion/clarification-seeking and fall outside Section 2(f) of the RTI Act
- Reliance placed on CIC precedent: Azad Singh vs. CPIO, Oriental Insurance Company Limited (March 23, 2021)
Regulatory Changes
No regulatory changes. This is an individual appellate order under the RTI Act with no broader regulatory implications.
Compliance Requirements
No new compliance requirements for market participants. The order reaffirms the established principle that CPIO is not obligated to create, interpret, or compile information as per an applicant’s desire under the RTI Act.
Important Dates
- February 04, 2026: Original RTI application filed by appellant
- March 02, 2026: CPIO response to RTI application
- March 15, 2026: Appeal filed by appellant (Reg. No. SEBIH/A/E/26/00103)
- April 02, 2026: Appellate Authority order issued
Impact Assessment
Negligible market or operational impact. This is a routine RTI appellate disposal involving a historical query about a 1995 BSE settlement cycle. The order has no implications for current trading operations, listed entities, or market participants. It reinforces the scope limitation of the RTI Act regarding opinion- and clarification-based queries.
Impact Justification
Routine RTI appellate order with no market-wide regulatory changes; individual grievance regarding historical BSE settlement cycle data from 1995, dismissed on procedural grounds.