Description

RTI appellate order concerning Jagadish Vital's appeal seeking information on SEBI recovery proceedings, property auction, and enforcement actions related to SMS Techsoft matters.

Summary

This is an appellate order under the Right to Information Act, 2005 before SEBI’s Appellate Authority. Appellant Jagadish Vital filed an RTI application on February 24, 2026 seeking extensive documentation related to SEBI’s enforcement and recovery proceedings connected to SMS Techsoft. The respondent (CPIO, SEBI Mumbai) replied on March 25, 2026, after which the appellant filed this appeal (Reg. No. SEBIH/A/E/26/00117) on the same date.

Key Points

  • Appeal No. 6812 of 2026 filed by Jagadish Vital against CPIO, SEBI, Mumbai under the RTI Act, 2005
  • RTI application originally filed February 24, 2026 via RTI MIS portal; CPIO response dated March 25, 2026
  • Appellant seeks certified copies of Recovery Certificates RC-2786/2020 and RC-4469/2022, and Recovery Proceedings Nos. 8220 & 8221 of 2022
  • Information sought on e-auction of Coimbatore ancestral property (RC-2786), including reserve price, bid details, sale certificate, and proceeds
  • Appellant seeks details on alleged ₹26,50,000 settlement related to SMS Techsoft enforcement and its application against specific Recovery Certificates
  • Queries cover SEBI and SAT orders invoking Section 11B in relation to SMS Techsoft/MNCL/RC-2786/RC-4469
  • Information sought on enforcement actions (or lack thereof) against MNCL, Anish Shah, and Rajesh Ranka for alleged KYC manipulation, preferential allotment, and forged KYC
  • Appellant requests certified reports from SEBI surprise inspection visits to SMS Techsoft premises on September 13, 2013 and November 5, 2013

Regulatory Changes

None. This is an individual RTI appellate proceeding and does not introduce any regulatory changes.

Compliance Requirements

No new compliance requirements for market participants. The matter is limited to SEBI’s obligation under the RTI Act to provide or withhold specific information to the appellant.

Important Dates

  • February 24, 2026: Original RTI application filed by Jagadish Vital
  • March 25, 2026: CPIO, SEBI Mumbai responded to RTI application
  • March 25, 2026: Appellant filed appeal (Reg. No. SEBIH/A/E/26/00117)
  • February 4, 2023: Public e-auction notice published by SEBI (referenced in query)
  • September 13, 2013 and November 5, 2013: SEBI surprise inspection visits to SMS Techsoft (subject of information request)

Impact Assessment

This order has no direct market or operational impact. It is an individual dispute over information access relating to historical SEBI enforcement proceedings against SMS Techsoft. The outcome affects only the appellant’s right to receive specific documents and has no bearing on broader market participants, listed entities, or regulatory policy.

Impact Justification

Individual RTI appeal with no direct market or regulatory change implications; pertains solely to information access in historic enforcement proceedings against SMS Techsoft.