Description

RTI appellate order dismissing appeal by Kamla Rani Yadav seeking deceased husband's share transaction details. SEBI held the information is not maintained in normal course of securities market regulation.

Summary

The SEBI Appellate Authority disposed of RTI Appeal No. 6831 of 2026 filed by Kamla Rani Yadav against the CPIO, SEBI, Mumbai. The appellant sought details of her deceased husband Shanker Prasad Yadav’s share purchases, sales, nominee details, and bank accounts used for trading from 2010 onwards, including transactions after his death on October 23, 2025. SEBI’s CPIO had already informed the appellant that such information is not maintained by SEBI in the normal course of regulating the securities market. The Appellate Authority upheld this response and dismissed the appeal.

Key Points

  • Appellant Kamla Rani Yadav filed an RTI application on March 23, 2026 seeking details of her late husband’s share transactions from 2010 onwards
  • Seven queries were raised covering share purchases, sales, nominee details, demat accounts, and bank accounts used for trading
  • SEBI’s CPIO responded on April 2, 2026, stating the information is not maintained by SEBI in normal course of securities market regulation
  • CPIO advised the appellant to contact listed companies, registered transfer agents (RTAs), depository websites, and stock exchange investor service centres
  • Appellant filed the appeal on April 9, 2026 (Reg. No. SEBIH/A/E/26/00131) on grounds of refusal of information
  • Appellate Authority upheld CPIO’s response citing the Supreme Court ruling in CBSE vs. Aditya Bandopadhyay (August 9, 2011), which holds that RTI Act only covers information available in public authority records

Regulatory Changes

No regulatory changes. This is a case-specific RTI appellate order with no amendments to rules or regulations.

Compliance Requirements

No new compliance requirements for market participants. The order reaffirms that SEBI is not obligated under the RTI Act to provide information it does not maintain. Investors seeking individual share transaction records should approach:

  • The listed company directly
  • The concerned Registrar and Transfer Agent (RTA)
  • Depository websites (NSDL/CDSL helpdesks)
  • Investor service centres of stock exchanges

Important Dates

  • March 23, 2026: Original RTI application filed by appellant
  • April 2, 2026: CPIO responded to RTI application
  • April 9, 2026: Appellant filed first appeal (Reg. No. SEBIH/A/E/26/00131)
  • October 23, 2025: Date of death of appellant’s husband (referenced in the application)

Impact Assessment

This order has no market-wide impact. It is a routine RTI appellate disposal reaffirming the established legal position that SEBI does not maintain records of individual investor share transactions. The order is relevant only to the individual appellant and serves as a precedent that queries about personal trading history of third parties must be directed to RTAs, depositories, or stock exchanges rather than SEBI.

Impact Justification

Routine RTI appellate order with no market-wide regulatory changes. Confirms SEBI does not maintain individual share transaction records of investors; matter is of interest only to the individual appellant.