Description

SEBI Appellate Authority dismisses RTI appeal by Chethan HM seeking certificate serial number details related to PACL India Limited land allotment and refund claim rejection. Information found unavailable with SEBI.

Summary

The SEBI Appellate Authority under the RTI Act dismissed Appeal No. 6856 of 2026 filed by Chethan HM against CPIO, SEBI, Mumbai. The appellant sought specific certificate serial numbers (out of 5828060 and 5828061) and supporting documentary evidence used by PACL India Limited to conclude that land was allotted under a specific PACL Registration Number, which led to the rejection of the appellant’s refund claim. SEBI’s CPIO stated the information is not available with SEBI, and the Appellate Authority found no deficiency in this response.

Key Points

  • Appellant Chethan HM filed an RTI application on April 04, 2026 seeking PACL certificate serial number details linked to a rejected refund claim
  • SEBI’s CPIO responded on April 21, 2026 stating the requested information is not available with SEBI
  • Appellant filed the appeal on April 21, 2026 (Reg. No. SEBIH/A/E/26/00145) on grounds of denied information access
  • Appellate Authority cited Hon’ble CIC precedent (Sh. Pattipati Rama Murthy vs. CPIO, SEBI, July 8, 2013): CPIO cannot invent information it does not possess
  • Appellant’s request for transfer of application to concerned authority under Section 6(3) of RTI Act was also rejected
  • Justice (Retd.) R. M. Lodha Committee, constituted per Supreme Court order dated February 2, 2016, handles PACL property disposal and investor repayment
  • Hon’ble CIC in M Shanmugam v CPIO (March 14, 2024) established that the Justice Lodha Committee is not a public authority under Section 2(h) of the RTI Act

Regulatory Changes

No regulatory changes. This is a disposal order on an individual RTI appeal with no amendments to existing rules or regulations.

Compliance Requirements

No new compliance requirements for market participants. The order solely concerns the individual RTI appeal and confirms SEBI’s CPIO is not obligated to provide information it does not hold.

Important Dates

  • April 04, 2026: Original RTI application filed by Chethan HM
  • April 21, 2026: CPIO response issued; appellant filed appeal on the same date
  • February 2, 2016: Supreme Court order constituting the Justice Lodha Committee
  • May 13, 2026: Appellate Authority order dismissing the appeal

Impact Assessment

This order has no broader market or operational impact. It is limited to the individual appellant’s RTI grievance regarding PACL refund claims. The ruling reinforces established precedent that SEBI’s CPIO cannot be compelled to provide information it does not possess, and that the Justice Lodha Committee — the body overseeing PACL investor repayments — is not classified as a public authority under the RTI Act, making it outside the scope of RTI transfer obligations.

Impact Justification

Routine RTI appeal dismissal with no market-wide regulatory changes; affects only the individual appellant seeking PACL-related refund information.