Description

SEBI Appellate Authority dismisses RTI appeal filed by Surinder Pal Singh seeking information about his mother's PACL refund application status. Respondent held to have correctly stated that specific document deficiency details are not available with SEBI.

Summary

The SEBI Appellate Authority under the RTI Act dismissed Appeal No. 6835 of 2026 filed by Surinder Pal Singh against the CPIO, SEBI, Mumbai. The appellant sought information regarding his mother’s PACL refund application, specifically the reasons why the uploaded PACL certificate was deemed incorrect or illegible. SEBI’s CPIO had responded that the requested information is not available with SEBI, and the Appellate Authority upheld this response.

Key Points

  • Appellant filed RTI application on March 31, 2026 seeking details about his mother’s PACL refund claim, including why the uploaded certificate was rejected and how to resubmit documents.
  • CPIO responded on April 7, 2026, stating the specific information sought is not available with SEBI but directed appellant to PACL-related public notices, press releases, and FAQs on the SEBI website.
  • Appellant filed the appeal on April 13, 2026 (Reg. No. SEBIH/A/E/26/00135), alleging the response was incomplete, misleading, or false.
  • Appellate Authority cited the CIC precedent (Sh. Pattipati Rama Murthy vs CPIO, SEBI, July 8, 2013): a CPIO cannot invent information it does not possess.
  • Authority noted that disposal of PACL properties and repayment to investors is under the jurisdiction of the Justice (Retd.) R. M. Lodha Committee, constituted pursuant to the Supreme Court order dated February 2, 2016.
  • Appeal dismissed with no deficiency found in the respondent’s response.

Regulatory Changes

No regulatory changes. This is an administrative RTI appellate order with no amendments to rules or regulations.

Compliance Requirements

No new compliance requirements for market participants. Individuals seeking PACL refund-related information are directed to:

  • SEBI website for public notices, press releases, status reports, and FAQs on PACL matters.
  • The Justice (Retd.) R. M. Lodha Committee for queries related to property disposal and investor repayment.

Important Dates

  • March 31, 2026: Appellant’s RTI application filed.
  • April 7, 2026: CPIO response issued.
  • April 13, 2026: Appeal filed (Reg. No. SEBIH/A/E/26/00135).
  • May 11, 2026: Appeal dismissed by Appellate Authority Ruchi Chojer.

Impact Assessment

No market or operational impact. This order pertains solely to an individual RTI appeal regarding PACL refund document processing. It reaffirms that SEBI’s CPIO is not obligated to provide information it does not hold, and reinforces that PACL investor repayment matters remain under the Lodha Committee’s purview. No action required by brokers, listed entities, or other market participants.

Impact Justification

Routine RTI appeal dismissal with no market or regulatory impact. Concerns an individual's PACL refund inquiry; no new regulatory changes or compliance obligations introduced.