Description

SEBI Appellate Authority dismisses RTI appeal by Rahul Sharma seeking information about a PACL plot in Mohali, upholding the respondent's reply that the requested information is not available with SEBI.

Summary

The SEBI Appellate Authority under the RTI Act dismissed Appeal No. 6833 of 2026 filed by Rahul Sharma against the CPIO, SEBI, Mumbai. The appellant sought information about a plot (C 2082, Sector 104, Mohali) purchased through Pearl Group (PACL) in 2008, including its status in the Lodha Committee’s genuineness list. SEBI’s CPIO responded that the requested information is not available with SEBI, and the Appellate Authority upheld this response.

Key Points

  • Appellant Rahul Sharma filed an RTI application on March 27, 2026 seeking details about a PACL plot allotted jointly to him and his wife Leena Sharma
  • The application sought: (1) whether the plot is in the Lodha Committee’s verified allottees list, (2) name of recognized allottee, (3) attachment/NOC status, and (4) correctness of names in records
  • CPIO responded on April 10, 2026 that the information is not available with SEBI
  • Appellant filed appeal on April 10, 2026 (Reg. No. SEBIH/A/E/26/00133) on grounds of refusal of information
  • Appellate Authority upheld the CPIO’s response citing CIC precedent (Sh. 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, constituted per the Supreme Court order dated February 2, 2016

Regulatory Changes

No regulatory changes. This is a routine RTI appellate order with no new directives or amendments.

Compliance Requirements

No new compliance requirements. The Appellate Authority directed the appellant to refer to SEBI’s website for publicly available PACL-related information including Status Reports, FAQs, Press Releases, and Public Notices.

Important Dates

  • March 27, 2026: Original RTI application filed by Rahul Sharma
  • April 10, 2026: CPIO response issued; appellant filed appeal
  • May 07, 2026: Appellate Authority order issued dismissing the appeal

Impact Assessment

This order has no broader market or regulatory impact. It is a case-specific RTI appeal dismissal concerning an individual PACL investor’s property query. Investors with similar PACL-related queries are directed to the Lodha Committee and publicly available information on the SEBI website rather than SEBI’s RTI mechanism.

Impact Justification

Routine RTI appeal dismissal with no broader regulatory or market impact; specific to an individual investor query about a PACL property allotment.