Description

RTI appeal by Pramita Devi seeking information on PACL Ltd investment refund status and land allotment records. SEBI Appellate Authority finds no deficiency in respondent's response as the requested information is not held by SEBI.

Summary

This order disposes of Appeal No. 6814 of 2026 filed by Pramita Devi against the CPIO, SEBI, Mumbai under the Right to Information Act, 2005. The appellant sought details about PACL Ltd investment certificates (five certificates of Rs. 20,000 each, totalling Rs. 1,00,000) including land allotment records and refund claim procedures. SEBI’s CPIO responded that the information is not available with SEBI. The Appellate Authority upheld the CPIO’s response, finding no deficiency.

Key Points

  • Appellant Pramita Devi filed an RTI application on March 16, 2026 seeking information on five PACL Ltd investment certificates totalling Rs. 1,00,000
  • Original certificates were deposited at PACL’s Kuber Complex, Varanasi office on November 5, 2014 for a loan that was never disbursed; office subsequently closed
  • Appellant’s refund claim on the PACL refund portal shows ‘Land Allotted YES’ for one certificate, which the appellant disputes
  • CPIO responded on March 24, 2026 stating the requested information is not available with SEBI
  • Appellant filed appeal on March 26, 2026 (Reg. No. SEBIH/A/E/26/00119) alleging incomplete, misleading, or false information
  • Appellate Authority upheld the CPIO’s response citing CIC precedent (Pattipati Rama Murthy vs. CPIO, SEBI, July 8, 2013)

Regulatory Changes

No regulatory changes. This is an individual RTI appeal order with no broader rule-making implications.

Compliance Requirements

No new compliance requirements arising from this order. SEBI reaffirms it does not hold PACL investor-level certificate or land allotment data.

Important Dates

  • March 16, 2026: Original RTI application filed by appellant
  • March 24, 2026: CPIO response issued
  • March 26, 2026: Appeal filed (Reg. No. SEBIH/A/E/26/00119)
  • February 2, 2016: Supreme Court order constituting the Justice R. M. Lodha Committee for PACL asset disposal and investor repayment

Impact Assessment

No market or systemic impact. The order is limited to one individual’s RTI grievance regarding PACL refund certificates. Affected investors with PACL-related queries are directed to the Justice (Retd.) R. M. Lodha Committee, which holds responsibility for property disposal and investor repayment under the Supreme Court’s February 2, 2016 order. SEBI’s website hosts relevant Status Reports, FAQs, and Press Releases on PACL matters.

Impact Justification

Individual RTI appeal concerning a personal PACL investment refund query. No regulatory changes, no market-wide impact. Outcome reaffirms that SEBI does not hold PACL-specific investor certificate data; matter is under the Justice Lodha Committee.