Description

SEBI Appellate Authority dismisses RTI appeal filed by Sandeep Kumar seeking information on PACL refund claim status, upholding CPIO's response that the requested information is not available with SEBI.

Summary

SEBI’s Appellate Authority under the RTI Act dismissed Appeal No. 6844 of 2026 filed by Sandeep Kumar against the CPIO, SEBI, Mumbai. The appellant had sought information about his PACL refund claim status, but SEBI’s CPIO responded that the requested information is not available with SEBI. The Appellate Authority upheld the CPIO’s response and found no deficiency in the respondent’s action.

Key Points

  • Appellant Sandeep Kumar filed an RTI application on April 19, 2026 seeking information on his PACL refund claim
  • CPIO responded on April 21, 2026 stating the information is not available with SEBI
  • Appellant filed the appeal on April 21, 2026 (Reg. No. SEBIH/A/E/26/00143) on the ground of being refused access to information
  • Appellate Authority cited precedent from CIC decision (Sh. Pattipati Rama Murthy vs. CPIO, SEBI, July 8, 2013): CPIO cannot invent information it does not possess
  • Appellant’s contention that SEBI should have transferred the application under Section 6(3) of RTI Act was rejected
  • Justice (Retd.) R. M. Lodha Committee — constituted under Supreme Court order dated February 2, 2016 — is responsible for PACL property disposal and investor repayment
  • CIC decision in M Shanmugam v CPIO, Pearls Agrotech Corporation Ltd. (March 14, 2024) held that the Justice Lodha Committee is not a public authority under Section 2(h) of the RTI Act, so transfer under Section 6(3) was not applicable
  • Appeal dismissed by Appellate Authority Ruchi Chojer on May 13, 2026

Regulatory Changes

No regulatory changes. This is a procedural RTI appellate order with no new rules or guidelines.

Compliance Requirements

No compliance requirements for market participants. This order pertains solely to the individual appellant’s RTI request regarding a personal PACL refund claim.

Important Dates

  • April 19, 2026: Appellant’s original RTI application filed
  • April 21, 2026: CPIO response issued; appellant filed appeal
  • May 13, 2026: Appellate Authority order dismissing the appeal (Place: Mumbai)

Impact Assessment

This order has no market or operational impact. It is a routine administrative disposal of an individual RTI appeal related to the PACL investor refund matter. The ruling reaffirms the established legal position that SEBI’s CPIO is not obligated to provide information it does not hold, and that the Justice Lodha Committee — the body responsible for PACL refunds — is not a public authority under the RTI Act, precluding mandatory transfer of RTI applications to it.

Impact Justification

Routine RTI appeal dismissal with no regulatory changes, no market impact, and no compliance obligations for market participants. Affects only the individual appellant's PACL refund inquiry.