Description

SEBI Appellate Authority dismisses RTI appeal No. 6822 of 2026 filed by V. Shankar Mohan, upholding the CPIO's response that the information sought regarding AngleOne trading account force closure notice was vague and not specific.

Summary

The SEBI Appellate Authority under the RTI Act dismissed Appeal No. 6822 of 2026 filed by V. Shankar Mohan against the CPIO, SEBI, Mumbai. The appellant had sought information regarding a force closure notice issued by AngleOne for his trading account one week before monthly expiry, along with conditions restricting averaging of option positions to reduce unrealized losses of Rs. 24,000. The CPIO had declined the request citing that the information sought was vague, not specific, and in the nature of seeking clarification/opinion rather than defined ‘information’ under Section 2(f) of the RTI Act. The Appellate Authority concurred with this assessment and dismissed the appeal.

Key Points

  • Appellant V. Shankar Mohan filed an RTI application dated March 14, 2026 regarding a force closure notice from AngleOne for his trading account
  • The application pertained to a force closure notice issued one week before monthly expiry with conditions prohibiting averaging of option positions to reduce unrealized loss of Rs. 24,000
  • CPIO responded on April 02, 2026, stating the query was vague, not specific, and sought clarification/opinion rather than ‘information’ as defined under Section 2(f) of the RTI Act
  • Appellant filed appeal on April 02, 2026 (Reg. No. SEBIH/A/E/26/00123) on grounds of refusal of access to information
  • Appellate Authority Ruchi Chojer concurred with the CPIO’s response and dismissed the appeal on April 29, 2026

Regulatory Changes

No regulatory changes. This is a routine RTI appellate order with no amendments to existing regulations.

Compliance Requirements

No new compliance requirements. The order reaffirms the established legal principle that information sought under the RTI Act must be clear, specific, and available in documented or material form with the public authority. Citing the CIC precedent in Mr. T. V. Sundaresan vs. CPIO, SEBI (November 24, 2021), the authority reiterated that broad, multiple, general, or presumptive queries cannot be furnished under the RTI Act.

Important Dates

  • March 14, 2026: Original RTI application filed by appellant
  • April 02, 2026: CPIO response to RTI application
  • April 02, 2026: Appeal filed by appellant (Reg. No. SEBIH/A/E/26/00123)
  • April 29, 2026: Appellate Authority order dismissing the appeal

Impact Assessment

This order has negligible market or regulatory impact. It is an individual RTI appeal concerning a personal grievance about a broker’s (AngleOne) trading account management practices. The dismissal reaffirms the RTI framework’s requirement for specificity in information requests and does not set new precedent beyond existing CIC rulings. No market participants, listed entities, or intermediaries are affected beyond the parties directly involved.

Impact Justification

Routine RTI appeal dismissal with no broader market or regulatory implications; pertains solely to an individual's grievance about a trading account force closure notice and does not affect any market participants beyond the appellant.