Description

SEBI Appellate Authority dismisses RTI appeal by Umarawati Devi seeking documents on PACL land allotment records, upholding CPIO's response that the requested information is not available with SEBI.

Summary

The SEBI Appellate Authority under the Right to Information Act, 2005 dismissed Appeal No. 6813 of 2026 filed by Umarawati Devi against the CPIO, SEBI, Mumbai. The appellant, an investor in PACL Ltd., sought documents related to land allotment records that prevented processing of her 2019 PACL refund claim. The Appellate Authority upheld the CPIO’s response that the requested information is not available with SEBI.

Key Points

  • Appellant Umarawati Devi filed an RTI application on March 16, 2026 seeking PACL land allotment records
  • Her PACL refund claim (submitted in 2019 via PACL refund portal) was not processed due to land being recorded as allotted against her certificates
  • Appellant disputes the land allotment, stating no land was ever allotted or possession delivered to her
  • CPIO responded on March 24, 2026 that the requested information is not available with SEBI
  • Appellant appealed on March 26, 2026 (Reg. No. SEBIH/A/E/26/00118) alleging incomplete, misleading, or false information
  • Appellate Authority found no deficiency in the CPIO’s response, citing CIC precedent (Pattipati Rama Murthy vs. CPIO, SEBI, July 8, 2013)
  • Responsibility for PACL property disposal and investor repayment rests with the Justice (Retd.) R. M. Lodha Committee

Regulatory Changes

No regulatory changes. This is an individual appellate order under the RTI Act, 2005.

Compliance Requirements

No new compliance requirements. SEBI/CPIO’s existing position is affirmed: PACL-related land allotment records are not held by SEBI, and investors with disputes over PACL land allotment data should approach the Justice R. M. Lodha Committee.

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/26/00118)
  • April 2026: Appellate Authority order issued

Impact Assessment

This order has no market or systemic impact. It is an individual RTI appeal decision affecting only the appellant’s access to PACL-related documents. It reaffirms SEBI’s consistent stance that PACL land allotment data is not held by SEBI and that investor repayment matters are administered by the Justice R. M. Lodha Committee. PACL investors with similar grievances about erroneous land allotment records in the PACL portal should be aware that SEBI does not hold these records and must engage with the Lodha Committee directly.

Impact Justification

Individual RTI appeal decision with no market-wide regulatory change; affects only the specific appellant's access to PACL-related documents. No trading or listing implications.