Description

RTI appellate order concerning a request for Regulation 30 LODR disclosures, legal proceedings, and corporate governance filings related to PDS Limited (NSE: PDS). SEBI clarifies that Regulation 30 disclosures are maintained by stock exchanges, not SEBI.

Summary

This is an order by SEBI’s Appellate Authority under the Right to Information Act, 2005, in Appeal No. 6841 of 2026 filed by Deepak Kasana against the CPIO, SEBI, Mumbai. The appellant sought extensive information relating to PDS Limited (NSE: PDS), including Regulation 30 LODR disclosures, records of legal proceedings in Bangladesh and India, forensic auditor engagements, financial results, and corporate governance filings. SEBI’s respondent clarified that Regulation 30 disclosures are filed directly with stock exchanges and are not maintained by SEBI in the ordinary course of business.

Key Points

  • Appellant filed RTI application dated March 23, 2026 seeking information on PDS Limited’s regulatory disclosures and legal matters
  • Information sought covered the period from July 31, 2025 to the date of the application
  • Queries included Regulation 30 LODR intimations, legal proceedings (including Civil Suit No. 126/2026 in Bangladesh for ~BDT 130 crore and EOW Complaint), forensic auditor engagements, whistleblowing incidents, quarterly financial results (Q2 and Q3 FY 2025-26), and Corporate Governance Reports
  • SEBI respondent responded on April 20, 2026; appellant filed this appeal on the same date (Reg. No. SEBIH/A/E/26/00140)
  • For queries 1–4, 7, and 10, SEBI stated the information is not maintained by SEBI as Regulation 30 disclosures are filed directly with stock exchanges
  • Appellants directed to refer to exchange websites (NSE) for such disclosures

Regulatory Changes

No regulatory changes introduced. This order reaffirms the existing framework that Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations requires listed entities to file disclosures directly with stock exchanges, not with SEBI.

Compliance Requirements

  • No new compliance obligations arise from this order
  • Confirms that parties seeking Regulation 30 disclosure records should approach the relevant stock exchange (NSE/BSE) rather than SEBI under RTI
  • PDS Limited’s disclosure obligations under Regulation 30 LODR remain as prescribed by the existing regulatory framework

Important Dates

  • March 23, 2026: Original RTI application filed by appellant
  • April 20, 2026: SEBI respondent replied to the RTI application; appellant simultaneously filed this appeal
  • Appeal Registration No.: SEBIH/A/E/26/00140
  • Information period covered: July 31, 2025 to March 23, 2026

Impact Assessment

This order has minimal direct market or regulatory impact. It is an administrative RTI appellate proceeding concerning information access regarding PDS Limited. The order reinforces the jurisdictional boundary between SEBI and stock exchanges for Regulation 30 disclosure records. Investors or parties seeking disclosure compliance records for listed entities under Regulation 30 LODR should approach the respective stock exchange directly. No trading restrictions, penalties, or new obligations are imposed on PDS Limited or any other market participant.

Impact Justification

Individual RTI appellate proceeding with no new regulatory changes or market-wide compliance obligations; clarifies existing disclosure filing jurisdiction between SEBI and exchanges.